Transferor (Noun)
Meaning
(law) someone who conveys a title or property to another.
Classification
Nouns denoting people.
Examples
- The seller, as transferor, must disclose any known defects in the property to the buyer.
- A deed must be executed and delivered by the transferor to pass valid title to the transferee.
- As transferor of the business, she ensured that all outstanding debts were settled before completing the sale.
- Under the terms of the agreement, the transferor warranted that the asset was free of all encumbrances.
- If the transferor retains a life estate, they will be allowed to use the property until their death, after which the new owner will gain full control.