Quick Deed Vs Warranty Deed In Michigan
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A quitclaim deed can be used to avoid probate by transferring interest in real property before someone's death. This prevents the property from going through probate court because ownership is transferred by deed during the grantor's life, rather than begin transferred by a Will after their death.
It's safer to use a warranty deed any time you are not entirely sure of your or someone else's ownership stake in any property. If you are transferring a property to your child or to a revocable trust agreement as part of an estate plan, then a quitclaim deed could do the trick.
In Michigan, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (similar to a will), naming someone to take over as trustee after your death (called a "successor trustee").
Quitclaim deed transfers are ideal for: transferring property interest between family members, such as a parent to a child.
Spouses know the history of the property's title and know the title's legitimate. Quitclaim deeds transfer the entire property to the other spouse while removing the grantor's name from the deed, allowing the parties to sever their relationship. Transfer process is quick, easy, and avoids probate.
Quitclaim deeds transfer the entire property to the other spouse while removing the grantor's name from the deed, allowing the parties to sever their relationship. Transfer process is quick, easy, and avoids probate. Quitclaim deeds work well in conjunction with refinancing mortgages to remove one spouse's liability.
A quitclaim deed is the opposite of a warranty deed in that the grantor is transferring title to a piece of property but is not warranting that they have good title to that property. A quitclaim deed only transfers whatever interest that the grantor has in the property at the time of the conveyance.
And file it with the county recorder's. Office once the quit claim deed is recorded. You'll need itMoreAnd file it with the county recorder's. Office once the quit claim deed is recorded. You'll need it to obtain a title search to ensure there are no liens or encumbrances on the property.
Now if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise thatMoreNow if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise that you'd want to convey the property via another quit claim deed.
Now if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise thatMoreNow if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise that you'd want to convey the property via another quit claim deed.
