What is the definition of 'transferee' related to transactions?

The term 'transferee' specifically refers to the party in a transaction who receives a property interest from another entity, often called the transferor. In the context of property transactions, this definition is crucial as it delineates the role of the transferee as the recipient of ownership rights or interests. Understanding this term is essential for navigating real estate transactions, as it establishes the legal relationship between parties involved in the transfer of property.

Other choices relate to different roles in the context of property but do not define the concept of 'transferee'. For instance, the unit owner of a lot refers to someone who owns a specific piece of property, the individual responsible for maintenance may manage or take care of the property without necessarily having ownership rights, and a dealer of the property typically facilitates transactions but does not receive property interests like a transferee does. Thus, the correct definition focuses specifically on the aspect of receiving property interests, making it essential for comprehending legal terms related to real estate and manufactured housing transactions.