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A grantor–grantee index is a general term for two lists of real property transfers maintained in alphabetical order of the last name of the parties transferring the property. One list is the grantor index, an alphabetic list of sellers (grantors). The other list is the grantee index, an alphabetic list of purchasers (grantees). [1]
Grantor-grantee indices. Overwhelmingly, this is the creation of an index based on the names of the grantors (the persons conveying the interest) and of the grantees (those receiving the interest). This is called the grantor-grantee index. Also included are the dates the instruments are recorded.
Each entry includes several cross-reference details, such as the names of the grantor (seller) and grantee (purchaser), the description of the parcel, the volume and page of the Deed books, the date, and other identifying characteristics of the transfer (for example, the type of deed).
This assures grantee there are no legal claims to the property by third parties, and no taxes are owed on the property that would restrict its sale. Some jurisdictions use the warranty deed to transfer real property instead of the grant deed. The warranty deed adds the additional guarantee that the grantor will defend the title against any ...
The grantor is the party transferring away a property right, and the grantee is receiving a property right. In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor or mortgagor is the borrower of the loan since they are giving away certain property rights to the mortgagee, lender ...
But a quitclaim deed contains no such warranty, and the grantee is entitled only to whatever interest the grantor actually possesses at the time. [7] Indeed, a quitclaim deed may offer the grantee no warranty at all regarding the status of the property's title (ownership), [ 8 ] and there may be no guarantee that the grantor owns an interest in ...
If the grantor uses language such as "but if alcohol is served", then the grantor or the heirs have a right of entry if the condition occurs, but the estate does not automatically revert to the grantor; this is a fee simple subject to a condition subsequent. In most jurisdictions in the United States these concepts have been modified by statute.
If such a condition does occur, the property reverts to the grantor, or a remainder interest is passed on to a third party. Fee tail: An estate which, upon the death of the tenant, is transferred to his or her heirs. Life estate: An estate lasting for the natural life of the grantee, called a "life tenant". If a life estate can be sold, a sale ...