In the context of life estates, what does the term "grantor" refer to?

The term "grantor" refers to the individual who creates the life estate by transferring an interest in the property to another party, while maintaining a life estate for themselves or another designated person. This person has the authority to establish the terms under which the property will be used during the duration of that life estate.

In a life estate arrangement, the grantor typically conveys ownership rights only for the duration of someone's life, often their own or another person's. Once that person passes away, the rights to the property pass to the remainderman, who is the individual designated to receive the property thereafter. Understanding the role of the grantor is crucial in the planning and structure of property ownership, especially in familial or estate contexts.