Who qualifies as a grantor in a real estate transaction?

In a real estate transaction, the term "grantor" refers to the individual or entity that conveys or transfers ownership of a property. For someone to qualify as a grantor, they must be of legal age and possess the legal competence to enter into contracts, which includes understanding the implications of transferring property rights.

Legal age typically means the person must be at least 18 years old in most jurisdictions, including Pennsylvania. Additionally, legal competence ensures that the individual has the mental capacity to engage in contractual agreements. These criteria are crucial for the validity of the transaction, as any transfer executed by someone who does not meet these requirements could be challenged or deemed invalid.

The notion of a minor, even with parental consent, does not satisfy the legal requirements for being a grantor, nor does it apply to just corporations and partnerships alone. Therefore, understanding the definition of legal age and competence clarifies why the knowledge of these aspects they qualify someone as a grantor in a real estate transaction is essential.