Grantor Vs. Grantee: What’s The Difference?
Author:
Victoria ArajMar 28, 2024
•5-minute read
If you’re in the process of buying a house, there’s often more to purchasing the home than simply finding the “right one.” The current owner selling the house, called the grantor, will need to transfer ownership of the property to the new homeowner, or the grantee.
This transfer of ownership rights often requires a certain level of knowledge of the legal language used in real estate transactions. It can sound intimidating, but learning the basics is important for future homeowners.
Let’s take a look at the differences between a grantor and a grantee and go over some of the documents you might come across when transferring ownership rights in a real estate transaction.
What Are Grantors And Grantees?
There are two sides to a transaction. In real estate, a grantee is the recipient of the property, and the grantor is a person who 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 each of their obligations.
What Is A Grantor?
The grantor is the party in a transaction who conveys ownership of an asset. During a real estate transaction, the grantor sells the property rights to the grantee.
What Is A Grantee?
A grantee is the person in a transaction who receives something – such as a home. In terms of a real estate transaction, the buyer is the grantee, as they receive ownership of the property after the closing process ends.