Everyone thinks of buying a new home as per their desires and choices. I do think of this sometimes. I also wanted to have my own home where I can be my own boss. Having your own home at your own place is quite difficult but possible to achieve. You can get really affordable deals with the help of agents or real estate agencies. You will need an informative lawyer to let you understand all the legal terms of the real estate sector. It will help you close the deal in an effective way and with proper documentation. Let’s see what is grantor in real estate.
The grantor in real estate means:
A grantor is a person who transmits an ownership right to a beneficiary or the purchaser. The grantor in a real estate deal is the existing owner of the property or the seller. The grant is the deed that exchanges ownership. You transfer the deed to the buyer when you sell your property. You're giving the buyer ownership of your home. In this case, you are the grantor and the buyer is the grantee.
The grantor in deed meaning:
A deed is a written document in which one person, known as the grantor, transfers the title of real property to another person, known as the guarantee, by signing and delivering it. In other words, a deed is a signed legal document that grants the guarantee of particular rights to an object, allowing them to own it.
It is necessary for the grantee to give up his land to the guarantee, the owner of the title so that the deed will be legally valid. The grantor should be above 18 years of age to execute this procedure. The most common application of deeds is to hand over control of cars or land among involved individuals.
In India, there are several types of legal deeds:
General Warranty Deed
Deed of Fiduciary
Deed of Trust
Special Warranty Deed
Bargain and Sale Deed
Grant Deed
Deed of Court Order
You got an idea about what is a grantor in real estate.
Draft your sale deed with the help of a senior advocate of NoBroker. Read More: What is a land grant? Types of land grants in Karnataka How to register a land granted by the government to SC ST?Your Feedback Matters! How was this Answer?
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Authors Of The Question
What is a grantor in real estate?
nikhil
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2 Year
2022-03-11T18:33:16+00:00 2024-10-04T12:29:59+00:00Comment
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