Dictionary

Green Belt Law

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...

Grantor

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...

Granting Clause

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: ...

Grantee

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 property.

Government Survey System

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...

Goodwill

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...