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Graduated Payment Mortgage--A loan in which monthly payments are relatively small in the beginning years and gradually increase in dollar amount over the life of the mortgage. Grantee--
A person who acquires an interest in land by deed, grant, or other written instrument. Grantor--A person, who, by a written instrument, transfers to another an interest m land. Guardian--One appointed by the court to administer the affairs of an individual not capable of administering his own affairs. |
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Harbor Line--An
arbitrary line set by authorities on navigable rivers, beyond which wharves and other structures may not be built. also designated as line of navigation. Heir--One who might inherit or succeed to an
interest in land under the rules of law applicable where an individual dies without leaving a will. Hiatus--A gap or space unintentionally left between, when attempting to describe adjacent parcels of land. Home Repair Loan--Used for repairs and additions to existing structures without affecting existing mortgage. Typically 10 years or less in length. |
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Improvements--Those additions
to raw lands tending to increase value such as buildings, streets, sewer, etc. Inchoate Dower--The imperfected interest which the law gives a wife in the lands of her husband. "This is an
interest which upon the death of the husband may ripen into possession and use." Inchoate Curtesy--The imperfected interest which the law gives a husband in the lands of his wife. "This is
an interest which upon the death of the wife may ripen into possession and use." Indemnify--To make payment for a loss. Ingress--The right to enter a tract of land. "Often used
interchangeably with access." (See Access) Insurance--A contract of indemnity against specified perils. Insurance Loan
--When cash value of life insurance policy is borrowed by insured. Interim Financing--Temporary or short term loans. Often used with new construction. Usually replaced with a permanent, long term
mortgage. Intestate--Designates the estate or condition of failing to leave a will at death. "To die intestate." |
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