The real estate industry has its own unique language and, without some knowledge of this language, you may find yourself a bit confused if you become involved in a real estate transaction. With this in mind, the experts at Monroe Title Insurance Corporation have compiled the following glossary of terms commonly used in the Real Estate industry.
Ginnie Mae (GNMA) - Government National Mortgage Association. A federal association working with the FHA that offers special assistance in obtaining mortgages and purchases mortgages in the secondary market.
Grant - To bestow or confer, with or without compensation, a gift such as land or money by one having control or authority over the gift.
Grantee - One to whom a grant is made.
Grantor - One who makes a grant.
NOTE: The following terms are defined only in their real estate or title insurance contexts and may have completely different meanings in other contexts. For more precise definitions, you are advised to seek legal counsel.