Grantor Retained Income Trust at Legal Glossary What is it? Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years.
Grantor-Grantee Index
(n) Grantor-Grantee Index is the record of deeds maintained with the County Recorder or Recorder of deeds containing the index of all recorded transfer title deeds.
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Grantor: The person placing property in a trust.
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GRANTOR - A person who grants another person or entity (an agent) the authority and power to act on behalf of the grantor in accordance with the powers set forth in a power of attorney document. (2) The person who sets up a trust.
Grantor or Settlor: The person who sets up a trust.
Gross Negligence: Intentional failure to perform a manifest duty in reckless disregard of the consequences to another person's life or property.
Grantor - The person who sets up a trust. Also referred to as "settlor." ...
Grantor or Settlor
The person who sets up a trust.
Guardian
A person appointed by will or by law to assume responsibility for incompetent adults or minor children. If a parent dies, this will usually be the other parent.
Grantor - One who gives.
Guardian - A person appointed by will or by law to assume responsibility for incompetent adults or minor children. If a parent dies, this will usually be the other parent.
GRANTOR. He by whom a grant is made.
GRASSHEARTH, old Engl. law. The name of an ancient customary service of tenants doing one day's work for their landlord.
GRANTOR -- The person who makes a grant.
Gross negligence - Any action or an omission in reckless disregard of the consequences to the safety or property of another.
grantor-grantee index
n. a set of books and/or computerized lists found in the office of every County Recorder or Recorder of Deeds which lists all recorded transfers of title by deed (as well as liens, mortgages, ...
Grantor trust
Definition
: a trust that is taxed at the settlor's tax rate because the settlor has the power to control the beneficial enjoyment of the trust, retains a reversionary interest in the trust, has administrative powers over the trust, ...
Grantor
A grantor is a person who grants something (typically, rights or real property). In a franchise agreement, for example, the party selling the franchise is the grantor.
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Contrary to a reversion, a remainder does not go to the grantor or his (or her) heirs.
Postjudgment Interest Rate(see Interest Rate)Power of AttorneyDocument that authorizes a person to make, on the grantor's behalf, decisions concerning the grantor's property and personal care issues.
The grantor of a feud. Feoffee. The grantee of a feud. The most ancient method of conveyance. The aptest word was "do" or "dedi", I give or have given.
In England on the other hand, since 1290, when the statute Quia Emptores was passed, sub-infeuda tion is impossible, as the new holder simply effaces the grantor, holding by the same title as the grantor himself.
If one makes and executes a quitclaim deed to another, all the recipient gets is what the grantor had to give. If the grantor did not have actual title to convey, the recipient gets nothing.
and in its most usual form was a conveyance by a grantor (owner) of real property to a grantee and the "heirs of his body," i.e., his lawful offspring, in successive generations. In the inheritance the rule of primogeniture was observed.
The grantor must have the legal ability to grant the thing or privilege.
The grantee must have the legal capacity to receive it.
Revocable Trust: A trust that the grantor may change or revoke.
The Legal Dictionary has taken steps to ensure that all legal, law, and court terms contained in our legal dictionary are correct.
A power of attorney dies with the grantor of that power, the donor.
In particular, statutes and legislation of individual jurisdiction or state differ as to the forms, ...
The estate reverts back to the grantor (or to some other person), at the death of the person to whom it is given. A property right to last only for the life of the life tenant is called the estate "pur sa vie.
Revocable trust - A trust that the grantor may change or revoke.
For legal advise regarding Revocable trust, you can contact our legal staff via phone (800) 341-2684 or email myweblawyer@aol.com .
Revocable trust A trust that the grantor may change or revoke.
Revoke To cancel or nullify a legal document.
Right of way The right of a party to pass over the land of another.
ASSIGNOR A person who assigns or transfers property to another. (Grantor).
ATTACHMENT A legal process or seizing another's property in accordance with a judicial order for the purpose of securing satisfaction of a judgment yet to be rendered.
Living trust - A trust set up and in effect during the lifetime of the grantor. (Also called inter vivos trust.)
Loose-leaf services -Loose-leaf replacement pages provided by a publisher in areas of the law where changes occur at a rapid rate.
Settlor - The person who sets up a trust. Also referred to as "grantor."
Shepardizing - Method for finding subsequent development of a legal theory by tracing status of a case as legal authority.
Escrow
Delivery of a deed by a grantor to a third party for delivery to the grantee upon the happening of a contingent event.
A legal device used to manage real or personal property, established by one person (the grantor or settler) for the benefit of another (the beneficiary). A third person (the trustee) or the grantor manages the trust.
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A right to use and to enjoy land and/or structures on land only for the life of the life tenant. The estate reverts back to the grantor (or to some other person), at the death of the person to whom it is given.
The "left-over" after property has been conveyed first to another party. A remainder interest is what if left-over after a life estate has run its course. Contrary to a reversion, a remainder does not go to the grantor or his (or her) heirs.
testamentary disposition In probate, the disposition of property by will or by deed, to take effect upon the death of the grantor.
testamentary guardian In probate, a guardian named in a person's will.
The estate reverts to the grantor (or some other person) on the death of the life tenant. A property right which lasts until the life tenant dies is called an estate pur sa vie (French: for his life).
 See also: Law, Person, Property, Trust, Court
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