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Grantor

A grantor is the person who is leaving the gift or bestowing a possession to someone. In estate planning, the grantor is the person who is deceased. This person, the grantor, usually has left instruction on what is to be granted to individuals, charities or other institutions. If there is no will, the grantor's wishes will not be known and the court system will distribute the estate according to the laws of the state and whether or not their are living relatives. In this case, the state becomes a symbolic grantor as they are making the decisions. Individuals can prevent the state from becoming their substitute grantor by insuring their final wishes are recorded in legal form, either through an estate planning attorney or using home forms that are notarized and witnessed.

Fast Facts

  • The grantor, or decedent, is under no obligation to grant their estate to any one individual with the exception of surviving spouses who have legal recourse in some situations.
  • Grantors may set up trusts prior to their deaths that are revocable should they change their minds before death or they can set up irrevocable trusts that are set in stone and cannot be altered.

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Articles

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  • Alabama Property Deeds

    A deed is the instrument that transfers ownership of real property from one owner to another. It contains the ...
    • Site: realestatelawyers.com
    • 5 of 9 user(s) found this useful
  • Colorado Property Deeds

    A deed is the instrument that transfers ownership of real property from one owner to another. It contains the ...
    • Site: realestatelawyers.com
  • Connecticut Property Deeds

    A deed is the instrument that transfers ownership of real property from one owner to another. It contains the ...
    • Site: realestatelawyers.com
    • 3 of 5 user(s) found this useful
  • Delaware Property Deeds

    Transfers of ownership interests in real property are done with an instrument called a deed. The deed contains...
    • Site: realestatelawyers.com
  • Hawaii Property Deeds

    A deed is the instrument that transfers ownership of real property from one owner to another. It contains the ...
    • Site: realestatelawyers.com
    • 6 of 8 user(s) found this useful

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