GRANNY BOND

In the United Kingdom, an issue of GILTS with an enhanced COUPON or tax benefits that is only available to investors that have reached a pensionable age.

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GRASS WIDOW

A slang term for a woman separated from her husband by abandonmentor prolonged absence; a woman living apart from her husband. Webster.

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GRANT

A generic term applicable to all transfers of real property. 3 Wasbb. Real Prop. 181, 353.A transfer by deed of that which cannot be passed by livery. Williams, Real Prop.147, 149; Jordan v. Indianapolis Water Co., 159 Ind. 337, G4 N. E. 080.An act evidenced by letters patent under the great seal, granting something fromthe king to a subject. Cruise, Dig. tit. 33, 34; Downs v. United States, 113 Fed. 147, 51C. C. A. 100.A technical term made use of in deeds of conveyance of lands to import a transfer. 3Washb. Real Prop. 378-380.Though the word “grant” was originally made use of, in treating of conveyances ofinterests in lands, to denote a transfer by deed of that which could not be passed bylivery, and, of course, was applied only to incorporeal hereditaments, it has nowbecome a generic term, applicable to the transfer of all classes of real property. 3Washb. Real Prop. 181.As distinguished from a mere license, a grant passes some estate or interest,corporeal or incorporeal, in the lands which it embraces; can only be made by aninstrument in writing, under seal; and is irrevocable, when made, unless an expresspower of revocation is reserved. A license is a mere authority ; passes no estate orinterest whatever; may be made by parol; is revocable at will; and, when revoked, theprotection which it gave ceases to exist Ja- mieson v. Millemann, 3 Duer (N. Y.) 255,258.The term “grant,” in Scotland, is used in reference (1) to original dispositions ofland, as when a lord makes grants of land among tenants; (2) to gratuitous deeds.Paterson. In such case, the superior or donor is said to grant the deed; an expressiontotally unknown in English law. Mozley & Whitley.By the word “grant” in a treaty, is meant not only a formal grant, but anyconcession, warrant, order, or permission to survey, possess, or settle, whether writtenor parol, express, or presumed from possession. Such a grant may be made by law, aswell as by a patent pursuant to a law. Strother v. Lucas, 12 Pet. 436, 9 L. Ed. 1137.And see Bryan v. Kennett, 113 U. S. 179, 5 Sup. Ct. 413, 28 L. Ed. 908; Hastings v.Turnpike Co., 9 Pick. (Mass.) 80; Dudley v. Sumner, 5 Mass. 470.

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GRASS-ROOTS COST ESTIMATE

Job or work costing estimated by those who will do the work is used to develop the budget.

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GRANT BACK CLAUSE

A requirement by a licensing entity that any improvement made during the licensing period to whatever was licensed to the licensee, must be told and given to the licensor when the license expires or per the licensing agreement. Typically, this relates to technology of some kind and includes related know-how acquired.

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GRANT DEED

A type of deed where the grantor attest by signature that (1) the property does not belong to another person, and (2) the property has no lien other than what is already noted on the deed. In California grant deeds are very common.

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GRATIFICATION

A gratuity; a recompense or reward for services or benefits, givenvoluntarily, without solicitation or promise.

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GRANTEE

The person to whom a grant is made.

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GRANTOR

The person by whom a grant is made.

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