13 September 1654 Grace was born in Lincoln's Inn Fields, London, the second daughter of Sir John Granville, and his wife, Jane Wyche.
[4] In 1701, Grace's brother, Charles Granville, 2nd Earl of Bath, died by suicide a fortnight after the death of their father, and the earldom was inherited by his son, William, a minor.
Following William's death in 1711, all Grace's elder siblings having predeceased her, she was created Viscountess Carteret and Countess Granville in her own right in 1714.
Grace Carteret died at the family seat of Hawnes in Bedfordshire, aged 77, a few months after attending her son's second marriage, to Sophia Fermor.
[6] She was buried in the vault of General Monk at Westminster Abbey.