What part of a deed defines the extent of ownership being conveyed by the grantor?

The correct answer is the habendum clause. This part of a deed is critical because it specifies the type and extent of the ownership being conveyed by the grantor to the grantee. The habendum clause typically follows the granting clause and begins with the words "to have and to hold." It outlines the rights and interests that the grantee will obtain, such as whether the ownership is full and unconditional or subject to certain conditions.

In contrast, the granting clause primarily serves the function of conveying the property from the grantor to the grantee, stating the intent to transfer ownership. The consideration clause usually mentions what the grantee is giving in return for the property, often in terms of monetary value, but it does not specify ownership rights. The mortgage clause, if present, pertains to obligations related to a loan secured on the property rather than defining the ownership itself.

Therefore, the habendum clause is essential for understanding the specifics of the ownership rights involved in the transfer of property.