Grantee 2025

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The document is a template for an Illinois Special Warranty Deed, detailing the transfer of property from an individual to a non-profit corporation while retaining a life estate. It includes instructions for completing the form, information on exemptions from the Illinois Property Transfer Tax, and a disclaimer regarding the use of the forms. The deed outlines the rights and responsibilities of both the grantor and grantee.

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What does being a grantee mean?

The Grantee is the buyer, recipient, new owner, or lien holder. When vs. appears on legal documents, the Grantor is on the bottom, the Grantee is on the top. Petitioner is the Grantee; Respondent is the Grantor.

What is the role of a grantee?

A grantee is the recipient of a grant, scholarship, or some other asset such as real estate property. In contrast, a grantor is a person or entity that conveys ownership of an asset to another person or entity: the grantee.

What does a grantee mean?

Grantors and grantees are on the opposite end of a transfer of title, with grantors serving as the sellers or lessors and grantees acting as the buyers or leasees. Most deeds provide some form of protection to both parties, in terms of ownership of and responsibility for the property, and claims and liens against it.