The grantor typically carries more liability in transactions dealing with important assets (such as houses). Simply put, the “grantor” in terms of real estate, refers to the seller. What is the difference? Which is which? Read on to find out! Grantor Definition In matters pertaining to property ownership transfers you will inevitably hear the terms “grantor” and “grantee”. Certain types of property transactions may benefit from using this type of deed. That is to say, a quitclaim deed does not ensure that the seller actually owns the property they are selling. A foundational element of a QD is unwarranted and unprotected. A quitclaim deed (QD) transfers a sellers interest in a specific property to a potential buyer. Now that we know what a deed is, let’s tackle the mysterious quitclaim deed. This action can be as simple as handing it to them. In most cases, the deed must be physically transferred from the previous owner to the new owner.
0 Comments
Leave a Reply. |