Real Estate
Glossary
This glossary has been provided to help Colorado Springs
homebuyers understand the unique language
of the real estate business.
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loan (mortgage):
Government loan is a kind of mortgage which is insured by the
Federal Housing Administration (FHA) or guaranteed by the Department
of Veterans Affairs (VA) or the Rural Housing Service (RHS).
Non government loans Mortgages are classified as conventional
loans.
Grant Deed:
This is one of the many types of deeds which was used to transfer
the real property. This contains warranties against prior conveyances
or encumbrances. When title insurance is purchased, warranties
in a deed are of little practical significance.
Guardian:
Guardian is a person who is appointed by a court for managing
the person and the property of one who is legally incompetent
to handle his/her own affairs
Group home:
This is a kind of single-family residential structure which is
designed for occupancy by unrelated developmentally disabled
persons. It provides long-term housing and support services that
are residential in nature.
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