This Quitclaim Deed from Individual to Two Individuals in Joint Tenancy form is a Quitclaim Deed where the Grantor is an individual and the Grantees are two individuals. Grantor conveys and quitclaims the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This form complies with all state statutory laws.
Michigan Quitclaim Deed from Individual to Two Individuals in Joint Tenancy
Category:
State:
Michigan
Control #:
MI-02A-77
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Michigan Quitclaim Deed is a legal document used to transfer ownership of real estate from one individual to two individuals as joint tenants. Unlike a warranty deed, a quitclaim deed does not guarantee that the grantor has a valid title to the property; it merely transfers the grantor's interest, if any, in the property.
How to complete a form
To complete the Michigan Quitclaim Deed, follow these steps:
- Fill in the name of the grantor who is transferring the property.
- Indicate the marital status of the grantor.
- Provide the addresses of both the grantor and the grantees.
- Detail the legal description of the property being transferred.
- State the value of the consideration being exchanged for the property.
- Have the grantor sign and date the deed in the presence of a notary public.
Who should use this form
This form is ideal for individuals who wish to transfer property ownership to two other individuals while retaining rights of survivorship. It is commonly used in family situations, such as transferring a family home to children or partners.
Legal use and context
The quitclaim deed is a legally recognized instrument in Michigan. It’s important to note that as a quitclaim deed does not provide any warranties, it should be used when the parties know each other and there is a level of trust regarding the title of the property.
Key components of the form
Essential components of the Michigan Quitclaim Deed include:
- The name and address of the grantor and grantees.
- The legal description of the property.
- The type of tenancy being created (joint tenancy or tenancy in common).
- Signature of grantor and acknowledgment by a notary public.
Common mistakes to avoid when using this form
When filling out a Michigan Quitclaim Deed, be cautious of the following common mistakes:
- Failing to provide a complete legal description of the property.
- Not ensuring the grantor's signature is notarized.
- Leaving out necessary details regarding the type of tenancy.
- Omitting the consideration value or claiming an inadequate amount.
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FAQ
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.
There will be a $30 recording fee. If you prepare a quitclaim deed using the Do-It-Yourself Quitclaim Deed (after Divorce) tool, detailed instructions on what to do next will print out along with the deed.
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.
Michigan uses quitclaim deed Form 863, which is different in each county, so make sure to get the form at the office or website of the County Register of Deeds in the county where the property is located.