National Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the National Real Estate Exam. Explore multiple-choice questions, flashcards, hints, and explanations. Gear up to ace your test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who is referred to as the owner in a real estate transaction?

Grantee
Optionor
Grantor
Lessee

The correct answer is: Grantor

In a real estate transaction, the term "owner" typically refers to the grantor. A grantor is the individual or entity who conveys the rights or title to the property to another party, known as the grantee. This term is commonly used in the context of property transfers, where the grantor is the current owner relinquishing their interest in the property, transferring ownership to someone else. The grantor plays a crucial role in the transaction by formally executing the deed, which is the legal document that transfers ownership. Once the transfer is complete, the grantee becomes the new owner of the property, holding the title. Understanding this distinction is essential for comprehending the dynamics of property ownership and transfer processes, as the roles of grantor and grantee are foundational to real estate transactions.