New Jersey Real Estate Practice Exam Free Practice Question
The person conveying an ownership interest in real property is known as the
Correct Answer: A
Rationale: The individual conveying an ownership interest in real property is termed the grantor. This person transfers their rights to the property to another party.
Option B, grantee, refers to the recipient of the property, not the one conveying it.
Option C, mortgagor, is a borrower who pledges property as security for a loan, while option D, mortgagee, is the lender who holds the mortgage. Both terms relate to financing rather than ownership transfer. Understanding these roles is crucial in real estate transactions.
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