Michigan Quitclaim Deed from Individual to Individual
Definition and meaning
A Michigan Quitclaim Deed from Individual to Individual is a legal document used to transfer ownership of real property from one person to another without guaranteeing that the title is clear. This type of deed conveys whatever interest the grantor has in the property at the time of the transfer, but does not provide any warranty on the title's quality.
How to complete the form
To complete the Michigan Quitclaim Deed, follow these steps:
- Fill in the name and address of the grantor, the current property owner.
- Enter the name and address of the grantee, the person receiving the property.
- Provide the legal description of the property to be conveyed. This information is crucial for identifying the property.
- State the purchase price or indicate if the transaction is exempt under specific Michigan laws.
- Sign and date the form in the presence of a notary public.
Legal use and context
The Michigan Quitclaim Deed is commonly used in transactions between family members or parties who trust one another, such as in cases of gifting property or transferring ownership within a family. It is important to understand that this type of deed does not offer the level of protection provided by other deeds, such as warranty deeds, as it does not assure the grantee of the grantor's ownership or the absence of liens against the property.
Key components of the form
A typical Michigan Quitclaim Deed includes the following key components:
- The names and addresses of the grantor and grantee.
- The legal description of the property being transferred.
- The statement of consideration (the amount paid or a statement of exemption).
- Space for the grantor's signature and date of the transfer.
- Notary acknowledgement section.
State-specific requirements
In Michigan, a Quitclaim Deed must be signed by the grantor, and the signature must be notarized to be considered valid. Additionally, the deed should be recorded with the county register of deeds where the property is located to provide public notice of the transfer. Failure to record the deed may result in disputes regarding property ownership.
Form popularity
FAQ
Once you sign a quitclaim deed and it has been filed and recorded with the County Clerks Office, the title has been officially transferred and cannot be easily reversed. In order to reverse this type of transfer, it would require your spouse to cooperate and assist in adding your name back to the title.
Yes, you can use a Quitclaim Deed to transfer a gift of property to someone. You must still include consideration when filing your Quitclaim Deed with the County Recorder's Office to show that title has been transferred, so you would use $10.00 as the consideration for the property.
A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
A Michigan quitclaim deed form provides no warranty of title. That means that the new owner has no legal right to sue the prior owner if there is a problem with the title to the property. The new owner simply takes whatever title that the prior owner has.
The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
If you own your own home, you are free to gift or sell an interest in the real property to someone else.You'll need to transfer an interest by writing up another deed with the person's name on it. In California, you can use either a grant deed, a quitclaim deed or an interspousal deed, depending on your circumstances.
In Michigan, a quit claim deed must be signed by a witness, in addition to the notary, to make it legal.After all required signatures are collected and notarized, file the document with your local register of deeds to complete the transaction.
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.