Final answer:
The components of a competent grantor in a written document of conveyance involve specified elements that create a legally binding transfer of property, different from a will which conveys wishes for asset distribution after death.
Step-by-step explanation:
The components of a competent grantor in a written document of conveyance include: 1) Named grantee, which specifies the person or entity to whom the property is being conveyed; 2) Recital of consideration, outlining what is being exchanged for the property, typically money or other valuable assets; 3) Words of conveyance, the formal language used to effect the transfer of property; 4) Habendum, indicating the type of ownership being transferred; 5) Unambiguous legal description of the property being conveyed; 6) Signature of the grantor, without which the document cannot be legally binding; and 7) Effective delivery and acceptance, meaning the document must be delivered to and accepted by the grantee to be valid.
A will, on the other hand, is a document expressing a person's wishes regarding the disposal of their property upon death. Although simple in form, a will's validity can often be contested, and its execution is a public process, potentially revealing the extent of the deceased's assets and their intended distribution.