When it comes to the ownership of a property, a grantee plays an important role. By real estate definition, a grantee is a recipient of the property ownership which will be backed by a legal document. On the other hand, a grantor is the one who hands over the property with a deed. Depending on the situation or the nature of the deal, the grantee may receive total or partial ownership from the grantor, which will be stipulated in the arrangements.
Signing a Deed
A deed is a written document that allows the grantor to transfer the property title to the grantee. Parties included in signing the deed will be the current owner who is the grantor (who takes care of transferring the property of ownership) and the grantee who is the new owner.
A deed will contain essential details, such as the names of both the grantor and grantee, legal description of real estate, and state of exceptions as examples to help make sure the process of conveying goes smooth.
It is important to note that there are instances where there are more than one grantee. For example, there may be a case where a parent grants his property to his children, who will eventually become grantees.