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| Garnishment | A legal process designed to provide a means for creditors to safeguard for themselves the personal property of a debtor which is in the hands of a third party ("garnishee"). |
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| General Agent | One who is authorized to perform any and all acts associated with the continued operation of a particular job or a certain business. |
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| General Contractor | The prime contractor who contracts for the construction of an entire building or project, rather than just a portion of the work. The general contractor hires subcontractors, (e.g., plumbing, electrical, etc.), coordinates all work, and is responsible for payment to subcontractors. |
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| General Partner | A member of a partnership who has authority to bind the partnership. A general partner also shares in the profits and losses of the partnership. See also “Limited Partnership”. |
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| Gift Tax | A graduated federal tax paid by a donor upon making a gift. |
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| Good Faith | Bona fide. An act is done in good faith if it is in fact done honestly, whether it is done negligently or not. |
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| Good Will | An intangible, salable asset arising from the reputation of a business. |
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| Government Survey | A system of land description in which large blocks of land are divided into tracts bounded by imaginary lines conforming to the true meridian. |
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| Grace Period | Additional time allowed to complete an action (e.g., make a payment) before a default or violation occurs. |
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| Graduated Rental Lease | A lease in which the rent payments commence at a fixed, often low rate, but "step up" or increase at set intervals as the lease term matures. |
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| Grandfather Clause | Common expression used to convey the idea that something which was once permissible continues to be permissible despite changes in the controlling law. |
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| Grant | To bestow or transfer an interest in real property by deed or other instrument; either the fee or a lesser interest, such as an easement. |
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| Grantee | The person who receives from the grantor a grant of real property. |
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| Grantor | The person transferring title to, or an interest in, real property. A grantor must be competent to convey; thus, for example, an insane person cannot convey title to real property. |
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| Gross Absorption | A measure of the total square feet leased over a specified period of time with no consideration given to space vacated in the same geographic area during the same time period. See also “Net Absorption”. |
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| Gross Area | The total floor area of a building measured from the exterior of the walls (excluding those unenclosed). |
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| Gross Building Area | The total floor area of the building measuring from the outer surface of exterior walls and windows and including all vertical penetrations (e.g. elevator shafts, etc.) and basement space. |
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| Gross Income Multiplier | A useful rule of thumb to estimate market value of income producing residential property. The multiplier is derived by using comparable sales divided by the actual or estimated monthly rentals and arriving at an acceptable average. |
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| Gross Lease | A lease of property under which the lessee pays a fixed rent, and the lessor pays the taxes, insurance, and other charges regularly incurred through ownership. |
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| Ground Lease | Rent paid to the owner for use of land, normally on which to build a building. Generally, the arrangement is that of a long-term lease (e.g. 99 years) with the lessor retaining title to the land. |
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| Growth Factor | Interest earned during the exchange, payable at the end. |
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| Guarantee of Lease | Signer (guarantor) assures Landlord that Tenant signing the lease will pay the rent. If not, the signer (guarantor) will be obligated to fulfill the lease. Used when the Tenant may be financially weak or substantial tenant improvement work is requested by the Tenant. Guarantor can be a corporation or a person. |
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| Guarantor | One who makes a guaranty. See also “Guaranty”. |
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| Guaranty | Agreement whereby the guarantor undertakes collaterally to assure satisfaction of the debt of another or perform the obligation of another if and when the debtor fails to do so. Differs from a surety agreement in that there is a separate and distinct contract rather than a joint undertaking with the principal. See also "Guarantor". |
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| Guardian | One who is given the lawful custody and care of another(called a ward). |
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