Grant Deed

AAA

DEFINITION of 'Grant Deed'

A legal document used to transfer ownership of real property. A grant deed contains the name of the person or entity transferring the property (the grantor); the legal description of the property being transferred (i.e., lot number, tract number, city, county and state); and the name of the person or entity that the property is being transferred to (the grantee). The grant deed shows that the title has not already been granted to another person.

INVESTOPEDIA EXPLAINS 'Grant Deed'

There are numerous types of grant deeds that can be used, depending on who is transferring property to whom. For example, an interspousal transfer grant deed is used to transfer ownership of real property from one spouse to another (often during a divorce). This type of transfer does not cause the property's value to be reassessed for property tax purposes. However a grant deed is the most common type of deed. The actual signing of a grant deed is usually witnessed by a notary. The grantee usually must pay a small fee when the deed is recorded with the county government.

RELATED TERMS
  1. Clear Title

    Also known as "clean title," "just title," "good title" and "free ...
  2. Conveyance

    The act of transferring an ownership interest in real property ...
  3. Deed

    A legal document that grants the bearer a right or privilege, ...
  4. Title

    The right to the ownership and possession of any item that may ...
  5. Cloud On Title

    Any document, claim, unreleased lien or encumbrance that might ...
  6. Title Insurance

    Insurance that covers the loss of an interest in a property due ...
Related Articles
  1. Top Tips For First-Time Home Buyers
    Home & Auto

    Top Tips For First-Time Home Buyers

  2. Selling Your House? Avoid These Mistakes
    Home & Auto

    Selling Your House? Avoid These Mistakes

  3. Closing A Real Estate Deal In A Down ...
    Home & Auto

    Closing A Real Estate Deal In A Down ...

  4. 10 Tips For Getting A Fair Price On ...
    Home & Auto

    10 Tips For Getting A Fair Price On ...

Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  3. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  4. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  5. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  6. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
Trading Center