What does a private grant refer to?

A private grant refers to the voluntary alienation of real property by a private party, which means that the current owner of the property willingly transfers their ownership rights to another private individual or entity. This process typically occurs through a legal instrument such as a deed, where the grantor specifies the terms and conditions of the transfer. In this context, the term "grant" implies that the granting party is giving up their rights to the property in favor of the grantee, who receives those rights.

Private grants can involve various types of real estate, including residential homes, commercial properties, and land. The transaction is characterized by its voluntary nature, differentiating it from involuntary transfers, such as those that may occur in situations like eminent domain where the government takes property for public use.

Understanding private grants is crucial for navigating real estate transactions, as they establish the legal framework through which property ownership is transferred and outline the associated rights and responsibilities of both parties involved.