Similarly, there may be more than one grantee.In that situation, both the husband and wife would be grantors. For example, if a husband and wife own real estate together, both of them can sign the same deed to transfer real estate to someone else. There may be more than one grantor if there is more than one owner.Here are a few guidelines to help keep these parties straight: Transfer-On-Death Deeds are beginning to replace Life Estate Deeds in many states, including Texas and California. With Transfer-On-Death Deeds (also known as Beneficiary Deeds), the grantees are often referred to as beneficiaries. If you want to know more about Lady Bird Deeds (also called Enhanced Life Estate Deeds), see our discussion of Florida Lady Bird Deeds and Texas Lady Bird Deeds. See our discussion of Life Estate Deeds for a more detailed overview. In most deeds prepared for estate planning purposes, the grantor will also be the life tenant/grantee. The remainder beneficiary is another type of grantee. The remainder beneficiary (commonly known as a remainderman) acquires the property at the death of the life tenant. The life tenant acquires the property from the grantor, but holds it only for his or her lifetime. As with all deeds, the grantor is the current owner who will transfer the property. The life tenant and remainder beneficiary are both grantees, but they take title at different points in time. Some deeds-known as Life Estate Deeds or Lady Bird Deeds-involve three parties: the grantor, the life tenant, and the remainder beneficiary. In a sale of real estate, the buyer is the grantee. The grantee is the person or organization that receives the real estate. The person who will own the property after the transfer is called a grantee. The grantor is the person or organization that is transferring the real estate. The current owner of the real estate is called a grantor. There will always be at least two parties to a deed: the person transferring the property and the person receiving the property. Parties to a Deedįor a deed to be valid, it must identify the parties. The deed is the physical representation of the abstract title ownership that the property owner is said to possess. The title is the ownership rights in the property that are conferred by the deed. The deed is the written, legal document that transfers ownership rights in the property to another party. Many people are confused by the relationship between a property deed, on one hand, and a property title, on the other. Each deed created by our software was designed by a licensed attorney to comply with the laws of the state where the property is located. The deeds created by our online deed preparation service are based on state-specific deed forms.
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