In real estate,agrantee is the recipient of the property,and the grantor is a person that transfers ownership rights of a property to another person. However,the specifics of their transaction may vary depending on the situation. The official documents they use,such as a deed,detail their obligations.
People also ask
What is a grantor in real estate?
In general, a grantor is someone who transfers a property right to a grantee. In a real estate transaction, the grantor is the current holder of the property right, or in other words, the seller.
What does it mean to be a grantee?
A grantee is an entity receiving title to a piece of real estate. The grantee is the buyer. When the grantee sells the property, the grantee becomes the grantor. Simply put, the grantee is the recipient. You can be a grantee even without receiving a property deed.
Who is the grantor of a land contract?
For instance, a land contract features both a grantor and a grantee. The grantor is the owner, and the grantee is the buyer who is acquiring an equitable interest (but not bare legal interest) in a property. It’s essential that a deed clearly states the grantee, grantor, and a description of the property involved.
Can a grantee be a grantor without a deed?
You can be a grantee even without receiving a property deed. For example, a land contract features both a grantor and a grantee. The grantor is the owner and the grantee is the buyer who is acquiring an equitable interest, but not bare legal interest, in a property.