In real estate business, a grant is a legal expression that is used in agreements or deeds of conveyance specifying the reassignment of a benefit or real estate by the benefactor to the beneficiary. It may be noted here that grants are normally provisional to specific prerequisites vis-à-vis the utilization, preservation of specific criterion, or a comparative involvement by the beneficiary or the grantor or benefactor.
Different techniques to reassigning the interest or benefits of land from one owner to another have evolved more than centuries ago. It may be noted here that a relatively consistent system of transferring land had already been developed during the mid nineteenth century vis-à-vis the use of grant. The grant developed by them included an account of the benefactor (grantor), the beneficiary (grantee) as well as the profit (gain) being reassigned. Moreover, the grant was signed and stamped by the beneficiary in the presence of a witness. As the certificate was sealed, it was frequently referred to as a deed of conveyance. In short, it was abbreviated to just a 'deed'.
Transferring the deed of land to any living person is perhaps among the most widespread method to clear out one's interest. A voluntary grant is one of the preferred ways to transfer land by signing an agreement regarding the sale of the land concerned. Other methods include expropriation denoting an obligatory or compulsory transfer of land. Basically, the transfer of an interest or benefit on a land is likely to produce two effects. In the instance of the transferring the complete interest on a land, the interest or benefits remain the same, but it is only reassigned to a different person. However, if the transfer includes only a segment of the interest on the land, the interest or benefit is divided into two segments with each person holding one segment of the interest. In this case, the grantee or the beneficiary retains the interest on the land that he or she has acquired under the provisions of the grant, while the grantor or the benefactor hold the interest that he or she keeps hold of it as this segment was not handed over by the grant.
It may be mentioned here that the transfer of a land under the land deeds procedure is also comparable to a grant or deed of conveyance and this is effectual even with no seal being used during the transfer. In fact, the expression 'grant' also denotes sharing of privileges or rights, authority or even money by the Crown or further authority to individuals for specific objectives.