"Gap" Coverage Endorsement
An endorsement extending the effective date of the commitment to the date of recording of the deed and mortgage.
"Gap" in Chain of Title
An instance in which a conveyance is missing from the county records.
The time between effective date of initial search and recording of instruments from closing during which no search has been performed.
"Good Faith" or "Mortgage Savings" Clause
A clause in CC & R's which provides that " a violation thereof shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith and for value."
Good Faith Purchaser or Mortgagee
A person who buys or lends in good faith, that is, without notice of any existing problem, where value is paid or lent.
Government National Mortgage Association (GNMA or Ginnie Mae)
A federal association, working with FHA, that offers special assistance in obtaining mortgages, and purchases mortgages in a secondary capacity.
One who receives an interest in real property by deed, easement, or other instrument of conveyance.
One who transfers the interest in real property by deed, is called the "grantor."
A person appointed by a court to manage the person and/or property of one who is legally incompetent to handle his/her own affairs.
Real estate insurance protecting against loss caused by fire, some natural causes, vandalism, etc., depending upon the terms of the policy.