term:

Grant

grant vt

1 : to permit as a right or privilege [ a new trial] [the Supreme Court ed certiorari]
2 : to bestow or transfer formally
;specif
: to transfer the possession or title of by a deed
: convey
n 1 : the act of granting
2 : something granted
;esp
: a gift (as of land or money) for a particular purpose
3 a : a transfer of property by deed or writing
b : the instrument by which such a transfer is made
;also
: the property so transferred

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.