who's who

Question 1

Grantor

Answer 1

Seller Or Person who gives the dead transferring title

Question 2

Grantee

Answer 2

Buyer or person who receives the deed (title)

Question 3

Lessor

Answer 3

Owner who Gives the lease

Question 4

Lessee

Answer 4

Tenant who receives the lease (personal property)

Question 5

Assignor

Answer 5

Old tenant who gives an assignment

Question 6

Assignee

Answer 6

New tenant who receives and assignment

Question 7

Mortgagor

Answer 7

Buyer or Borrower who gives a mortgage as security device for financing (incidental to the note)

Question 8

Mortgagee

Answer 8

Lender who receives a mortgage as the security for the note/loan. It could be the seller if he is carrying a back note on the property.

Question 9

Trustor

Answer 9

Borrower or buyer who gives a trust deed as the security for financing (incidental to the note)

Question 10

Trustee

Answer 10

Party who holds naked title (the right to foreclose with court action-approximately a four-month process.)

Question 11

Beneficiary

Answer 11

Lender or Seller. Does not have an estate in the property.

Question 12

Vendor

Answer 12

Seller who gives either a bill of sale for personals property or a seller who retains legal title when selling real property using a land sales contract.

Question 13

Vendee

Answer 13

Buyer who receives a bill of sale for personal property or a person who receives “equitable title” when buying real property under a land sales contract.