Hello, this is CJ here from CJE Real Estate LLC. I’m here to talk to you about the definition of grantor and grantee in real estate, and why you should know what these terms mean. Please subscribe to my channel, CJE Real Estate LLC on YouTube, for the latest real estate updates and information. Don’t forget, go to CJBuysHomesFast.com to get your free all cash offer for your Arizona property or any other state that we operate in. Like, comment and share this video.
All right. In Arizona real estate commonly used terms like grantee and grantor are defined according to ARS, Arizona revised statute 1-215 section 12 and 13. Check out the link in the description to go to the website and read the definition. Grantee includes every person to whom an estate or interest in real property passes in or by a deed. Grantor includes every person from or by whom in a state or interest in real property passes in or by deed. The difference between grantor versus grantee is that the grantor is a person who transfers a property they own to a grantee, the receiver.
So why not just say seller and buyer? Because there’s a legal meaning behind titles grantor and grantee when it comes to the deed. A deed is a legally binding document that transfers the property from one party to another. Because it is a legal document, the terminology must have legal meaning. If these grantor and grantee do not appear on the deed, then the document may not be legally binding and the deal can fall through or be challenged.
A grantor and a grantee can be related or unrelated to each other. You can have a single person selling to a corporation, one spouse transferring property to the other, or any number of scenarios, and no money has to be exchanged. You could be a grantor transferring your real estate to a grantee, like a spouse giving ownership of a property to their significant other, or parents giving a property to their kids. The roles of a grantor versus a grantee are also different. The grantor’s role in the real estate transaction is to transfer their ownership of a specific house or property. As a grantor, it is your responsibility to sit down with a lawyer and outline the deed to make sure it’s clear what you’re transferring to the grantee, and if there’s anything you are keeping.
Once a deed is complete, it will be delivered to the grantee and filed with the county clerk so that the property transfer is documented within county records. Most counties charge a small fee around $10 to record your deed.
And let’s take a look at the grantee’s role in the transaction. This is very important. The role of the grantee is to receive the title and the deed of the property from the grantor. If the transfer is a success, you become the legal owner of the property unless a claim to the title is made. If this happens, you want to make sure you have a title insurance policy, otherwise, you’ll be responsible for legal expenses if the grantor did not have the right to sell you the property and someone makes a claim or any other title issues, including the property not being zoned correctly for your intended use.
As a grantee, you are also responsible for making sure the deed was filed with the county. To make sure this has been completed, you have two options. You can check with the grantor’s title company, that’s one, or call or visit the county clerk’s office and check the records to verify yourself.
Now that you know who the grantor and grantee are, the differences when it comes to grantor versus grantee, and what each person’s responsibility in completing the transaction is. Thank you for watching and listening. I hope you found this video educational. Me and my network of expert real estate professionals look forward to helping you. Check out the description for the links, including links to individual states’ definition of common real estate terms. Feel free to call us, (480) 378-7635 or go to CJBuysHomeFast.com to get your free all cash offer for your Arizona property. Don’t forget to like, comment and share this video.