Definition: An intangible asset arising from the reputation of a business. Pronunciation: \ˌgu̇d-ˈwil\ Used in a Sentence: Because the store had been in business for several years, it’s goodwill value was reflected in the sa..
Category : G
Definition: a type of land description developed by federal government for subdividing lands using surveying lines. Pronunciation: \ˈgə-vər(n)-mənt\ \sər-ˈvā, ˈsər-ˌ\ \ˈsis-təm\ Used in a Sentence: The government survey system creates a checkerboard of identical squares covering a g..
Definition: The party who receives a conveyance of real property; buyer. Pronunciation: \gran-ˈtē\ Used in a Sentence: At the closing the grantee received the deed to the..
Definition: the provision in a deed that specifies the names of the parties involved, the words of conveyance and a description of the property. Pronunciation: \ˈklȯz\ Used in a Sentence: We were careful to read the granting clause portion of the deed to confirm all information wa..
Definition: the person transferring title to, or interest in, real property; seller. Pronunciation: \ˈgran-tər, -ˌtȯr; gran-ˈtȯr\ Used in a Sentence: Once the grantor had signed the deed the property was offici..
Definition: legislation that authorizes county property appraisers to assess land used for agricultural purposes according to its current value as agricultural land. Pronunciation: Used in a Sentence: Florida’s Green Belt Law protects farmers from having taxes increased unfairly because the land might be suited for urb..
Definition: a rule of thumb for estimating the market value of commercial and industrial properties, the ratio to convert annual income into market value. Pronunciation: \ˈgrōs\\ˈmär-kət\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence: The appraiser applied a gross market multiplier when estimating the value of the ..
Definition: A lease of property in which the lessee pays a fixed rent and the lessor pays all of the expenses associated with the property. Pronunciation: \ˈgrōs\ \ˈlēs\ Used in a Sentence: We were able to sign a gross lease on the office space that ..
Definition: A rule of thumb for estimating the market value of income-producing residential property. Pronunciation: \ˈgrōs\ \ˈrent\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence: The agent used the gross rent multiplier when estimating the value of the apartment building we were interested ..
Definition: A lease of land alone, sometimes secured by improvements placed on the land. Pronunciation: \ˈgrau̇nd\ \ˈlēs\ Used in a Sentence: We signed a ground lease for the property we wanted to build our war..