G

GARNISHMENT

Statutory proceeding whereby a debtor's personal property, in possession of a third party, is seized and applied to payment of the debt.

GENERAL INTANGIBLE

Any personal property other than goods, accounts, chattle paper, documents, instruments, investment property, rights to proceeds of written letters of credit, or money.

GENERAL PLAN RESTRICTIONS

Restrictions on use of real property imposed for the benefit of all lots in a subdivision.

GENERAL WARRANTY

A warranty provision in a deed or mortgage or other real estate instrument containing all of the common law items of warranty. Also known as a full warranty.

GLIDER KIT

A heavy truck that has been refurbished using a package of parts.

GOOD FAITH

Honesty in fact and the observance of reasonable commercial standards of fair dealing.

GOODS

All things that are movable at the time the security interest attaches, including fixtures.

GORE

A sliver of land usually of triangular shape between two tracts, resulting from failure of land descriptions to adjoin.

GOVERNMENT USE

The vehicle was registered and used by a public entity (e.g. a federal, state or local governmental agency).

GRANT

A transfer of real estate between individuals, by deed. A transfer of real estate from a sovereign by patent or royal decree.

GRANT DEED

One of many types of deeds used to transfer real property. A grant deed contains warranties against prior conveyances or encumbrances.

GRANTEE

One to whom a grant is made.

GRANTOR

One who makes a grant.

GREY MARKET

Vehicle entered the country and did not meet U.S. safety and/or environmental standards.

GROUND LEASE

Lease covering land only and not improvements which are to be installed by the lessee.

GROSS WEIGHT EXEMPTION

Vehicle is exempt from the odometer law after exceeding certain gross weight.

GUARANTY

An agreement in which a guarantee or assurance of a state of facts or the performance of an objective or obligation is given.

GUARDIAN

A person who is legally responsible for the care and management of the person or property of one who is legally incompetent to manage his own affairs.