Grantor
A person who transfers property or rights to another party. In trusts, the grantor creates the trust and transfers assets into it.
Encyclopedia entry: Grantor
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grantor
A grantor is a person who transfers an interest in real property either by gift or by sale. The party granted the property interest is known as the grantee .
Grantors are subject to the federal gift tax when transferring property to a grantee without sufficient consideration .
[Last reviewed in January of 2023 by the Wex Definitions Team
]
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Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.