A grantee is the person who receives ownership of a property from the grantor. In simpler terms, they are the buyer in a real estate transaction.
Key points about a grantee:
Recipient of property: The grantee acquires ownership rights from the grantor.
Legal document: The transfer of ownership is typically documented in a deed, where the grantee's name is recorded.
Responsibilities: The grantee is usually responsible for fulfilling the terms of the purchase agreement, such as paying the purchase price and closing costs.
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The grantee is responsible for using the funds as agreed and for reporting on their activities.
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