Real Estate Glossary G - I

Government Survey Method: A system of land description which uses meridians (north and south lines) and base lines (east and west lines). Areas include quadrangles (24 miles on each side), townships (6 miles on each side) and sections (1 mile on each side.)

Gross Lease: A type of lease in which the tenant pays a flat rate for rental space and the landlord pays all expenses.

Gross Square Footage: The total square footage of a building including elevator shafts, vertical penetrations, equipment areas, ductwork shafts and stairwells.

Highest And Best Use: The use of land or buildings which will bring the greatest economic return over a given time which is physically possible, appropriately supported and financially feasible.

Hold Harmless: A clause, or promise in the contract by one party not to hold the other party liable in a way that causes damage to the first party.

HVAC: Heating Ventilation and Air Conditioning.

IREM: Institute of Real Estate Management.

ISDN: Integrated Services Digital Network; A high-speed data and media communication system faster than conventional phone lines.