What is the difference between a grantor and a grantee index

There are also specific definitions when it comes to certain types of deeds:. The grantee receives the exact same interest the grantor had. In quitclaim deeds, the property may still be subject to other title claims or ownership interests. Quitclaim deeds are used rarely in situations where the grantor and grantee are not personally acquainted. They afford the least amount of legal protection, so most quitclaim deeds arise from family issues or between people who know each other very well and trust one another.

Grant deeds generally hold that the grantor has not previously sold the property in question, and the grantor is transferring ownership of the property to a grantee without any liens or encumbrances, aside from those disclosed in the deed. This affords the grantee protection from any potential title issues. Special warranty deeds allow grantors to limit the title warranty to anyone claiming under, from, by, or through the grantor, but no one prior to the grantor. Essentially, this means the grantee has far less protection from any unforeseen title issues.

Deeds that do not clearly identify the grantor and grantee could lead to lawsuits down the road. Deeds are not set in stone. However, the benefits and obligations differ from one another. Five of the most common ones are:. Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice. Mockingjay: a symbol of rebellion and pursuit of freedom from the Capitol or any adversity In the highly successful film franchise of Hunger Games set….

Josue Llanas shared a cheat sheet with all the steps you need to start wholesaling houses. Some other common functions and names of a grantor are settlor, trustor, and trustmaker. The grantor gives the assets to the identified beneficiaries. Whenever a person sells out option contracts, the premium earned is by the grantor and is referred to as options writer.

Depending upon the trust, the grantor can also act as a beneficiary and trustee or even both. All the assets in the trust are provided by the grantor. The other associated property and funds are under the ownership of the grantor. The management of the property in the trust is also under the grantor. There are many trusts which are non-grantor and the control of the assets is relinquished. In this case, the trust usually functions as an entity of separate tax.

The grantor is also called the settlor or creator as it can create trust. The trusts of the grantor can be revocable. The grantor has the right to modify the terms of the trust.

The grantor can even revoke the trust altogether. Develop and improve products. List of Partners vendors.

A grantee is the recipient of a grant , scholarship, or some other asset such as real estate property. In contrast, a grantor is a person or entity that conveys ownership of an asset to another person or entity: the grantee.

Identifying the grantee and grantor is especially important in legal documents as specific duties, responsibilities, benefits, and limitations are assigned to each.

A grantee is the recipient of something granted or given. The term can be used in different contexts and across different industries and institutions. In real estate, the grantee takes title to the purchased property. In academia, a grantee is the recipient of a scholarship or grant. In the investment industry, a grantee can be the recipient of stock options. The grantor and grantee are named in legal documents, such as deeds, which transfer from one party to another the interests or rights to an asset.

However, what exactly is being transferred can differ depending on the type of legal document. For example, in real estate, a quitclaim deed provides no warranty regarding the status of the property's title to the grantee. This type of deed can render the grantee powerless should there be title defects whereby no interest in the property is transferred to the grantee.

These types of deeds are uncommon between parties with no existing relationship. Special warranty deeds assure the grantee that the grantor owns the asset, such as real estate property, and had no issues with the title during their ownership.

The special warranty deed does not provide any guarantees about the title before the grantor's ownership. General warranty deeds include warranties and covenants, offering grantees the most protection.