Real estate attorneys in Michigan provide knowledgeable legal counsel to clients throughout the state.
Warranty deeds, quitclaim deeds, and covenant deeds are the three primary types of deeds used in the state. As your Michigan deed attorneys, we can explain the type of deed required for your real estate transaction. Each one has its own uses.
A DEED TRANSFER IN MICHIGAN
In Michigan, a deed is given when a piece of property is transferred, transferring ownership to the new owner. The majority of people are unaware that there are various types of deeds that can be utilized for a transaction based on the specifics of the property transfer.
QUITCLAIM ACTIONS
Quitclaim deeds are among the most popular kinds of deeds. These are done using forms submitted with the county and are used to quickly transfer property. The agreement transfers to the signer the same rights to the property that the present owner currently has.
A quitclaim deed, which is frequently executed between acquaintances, lowers the amount of paperwork required to transfer property. These kinds of deeds can be used to create co-ownerships, transfer property from a parent to a child, transfer property to one spouse during a divorce, transfer property to a revocable living trust, and more.
GUARANTEE DEED
A warranty deed is the next type of deed authorized in Michigan. When a land contract is made for the sale of a piece of property, these documents are prepared. The deeds guarantee that the buyer of the property will have possession of it, legal ownership of the land, and the freedom to use it as they see fit.
After the final payment is made and the whole purchase price for the home has been satisfied, the document describes the transfer of the property from the seller to the buyer.
COMMITMENT DEED
Covenant deeds are used instead of warranty deeds when a company or government body is hesitant to grant a warranty deed over a piece of property.
A Deed C is another name for a covenant deed. When the property being sold is in foreclosure and the bank is in possession of the property, one situation in which these deeds may be issued for a transaction is that. You must make sure that the purchase agreement specifies the delivery of a marketable title for the land if you accept one of these deeds during a real estate transaction.
If you have a marketable title, no one else will be able to claim possession of the property once you do. We can guarantee that the purchase agreement’s conditions are advantageous.
REGISTERING DEEDS WITH COMMUNITIES
Deeds must be registered with the county’s register of deeds in accordance with Michigan law. The deeds must have one or more witnesses sign them when they are filed. Deeds become public record once they are recorded. The records are accessible in Ingham County through internet searches and the Register of Deeds office. Allow our knowledgeable deeds attorneys to handle all the documentation necessary to properly submit your deeds.
MICHIGAN DEED HANDLING
All real estate deeds and associated difficulties can be handled by the skilled Michigan deed attorneys. We can guide you through every step of the real estate deed process, from understanding the many forms of deeds to submitting the necessary paperwork to your local government.
