Grant Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Grant, written in plain English, along with examples of how it is used.
What is Grant?
(v) Grant is the legitimate transfer of the right in a real property held by a person or entity, to another person or entity, by sale, gift or other mode of transaction with or without for any consideration
History and Meaning of Grant
The term grant is associated with the transfer of rights to a property from one person to another. It is a legal concept that dates back to the Middle Ages when the king owned all the land in the kingdom, and individuals could only hold it under the king's grant. Today, the term is used in a broader sense, and anyone who has the right to sell or gift a property to someone can do so through a grant.
In its most basic definition, a grant is a way to transfer the ownership of a property from one person to another. It is a legally binding agreement that is enforced by the court of law. The person who receives the grant takes over all the rights and responsibilities that come with the property, including any debts or liabilities.
Examples of Grant
- A parent may grant a property to their child as a gift.
- A company may grant an employee stock options.
- A government agency may grant a permit to a contractor to build a road.
- A landlord may grant a lease to a tenant.
Legal Terms Similar to Grant
- Deed: A legal document that transfers the ownership of a property from one person to another.
- Conveyance: The process of transferring the ownership of a property from one person to another.
- Transfer: The act of moving the ownership of a property from one person to another.