A deed is an instrument by which an owner (the grantor) transfers an interest in land to a new owner (the grantee). No consideration is required to make the deed effective. The deed is necessary to transfer title to land even if it is a gift. It has no effect, and title does not pass until the deed has been delivered. The recording of the deed is not required to make the deed effective to pass title between the buyer and the seller. However, recording is necessary so that the public will know that the buyer is the present owner. Recording constitutes "notice to the world" of the transfer in title.
The grantor is the person selling the property. The grantee is the person buying the property. A grant deed is a deed containing an implied warranty that there are no encumbrances on the property not described in the deed and that the person transferring the property actually owns the title. It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public. It is in contrast to a quit claim deed, which only conveys the interest that the transferor actually owns, if any, without a warranty of ownership.
A Michigan Grant Deed is a legal document used to transfer ownership of real property in the state of Michigan. It is one of the commonly used real estate deeds in the state and provides important details about the property being transferred. This comprehensive article will outline the key aspects of a Michigan Grant Deed, its purpose, requirements, and the different types of Grant Deeds that exist in the state. A Grant Deed in Michigan is used when a property owner, referred to as the granter, wishes to transfer their property to another individual or entity, known as the grantee. This transfer signifies a change in ownership and is executed by the granter signing the deed and recording it with the county clerk's office where the property is located. What makes a Michigan Grant Deed unique is that it includes a guarantee from the granter that they have full legal authority to transfer the property. The granter also guarantees that the property is free of any undisclosed liens or encumbrances, except what is specifically mentioned in the deed. This guarantee offers the grantee additional protection against potential title defects. To create a valid Michigan Grant Deed, certain requirements must be met. These include the full legal names and addresses of both the granter and grantee, an accurate and complete legal description of the property, the consideration involved in the transfer (typically the purchase price), and the granter's signature. Additionally, the deed must be notarized to confirm its authenticity. It is advisable to consult with an attorney to ensure all necessary requirements are met when drafting or signing a Grant Deed. While the basic Michigan Grant Deed serves the primary function of transferring ownership, there are different types of Grant Deeds that may be used in specific situations: 1. General Warranty Deed: This is the most common and traditional type of Grant Deed in Michigan. It provides the broadest protection to the grantee, as the granter guarantees against any past or future title defects. 2. Special Warranty Deed: This type of Grant Deed only guarantees against title defects that occurred during the granter's ownership, excluding any issues before their ownership. 3. Quitclaim Deed: Unlike the previous two, a Quitclaim Deed does not provide any guarantee or warranty regarding the property's title. It is primarily used to transfer ownership between family members, as gifts, or to clear clouds on the title. In conclusion, a Michigan Grant Deed is a vital legal document used to transfer ownership of real property in the state. It offers essential guarantees and protection to both parties involved in the transaction. Understanding the requirements and different types of Grant Deeds available can help individuals navigate property transfers effectively and ensure a smooth transaction process.
