In TreasuryDirect, for a security with Primary Owner registration, the first-named registrant (orgrantor) may grant Transact rights to the second-named registrant (or grantee). The grantor may edit or delete these rights at any time. Transact rights do NOT apply to the Zero-Percent C of I security. Transact rights allow the grantee of a savings bond to view and redeem the security. Transact rights allow the grantee of a marketable security to transfer or sell the security, as well as change the maturity and/or interest payment destination. For tax reporting information, see Learn more about Tax Reporting.