This legal document includes a legal description of the property that is being deeded, the county it is located in, date of transfer, and the names of the grantor person transferring the property and grantee person receiving the property. If a price has been paid for the transfer, that amount is included. The grantor signs the document and this signature is generally notarized. Witnesses may be required depending on the state. In some states the grantee also signs the deed. It is common to file the deed with the county clerk in the county where the property is located, but in some states this is not required.
Quitclaim deeds are a fast and easy way to move property among family members or to place real estate into a trust. They are not a method to use when selling real estate. Contents 3 min read. Brette Sember, J.
Property Owners. Though a quitclaim deed is a common way to transfer ownership, it is possible to legally challenge one. Deeds can be complicated and nuanced, taking multiple forms, each with its specific implications and particular best uses. Estate Planning Basics. Quitclaim deeds are an easy way to convey property to another, but be careful, as there may be unknown title issues that may arise. Learn more about quitclaim deeds and how to use them.
Last Wills. You want to make sure you have all your assets covered, but did you know that not all property can be bequeathed through a last will and testament? To transfer real property between members of a family — the deed is commonly used to transfer property between parents and their children, or between siblings and other closely related families.
To add or remove a spouse from a title — whether from a marriage or a divorce, a quitclaim claim facilitates the addition or the removal of a spouse for the title of a real title. This happens all the time when an owner changes their name after obtaining a title for a property. You could also use the quitclaim to transfer your property rights into a trust, as part of your estate planning strategy. The quitclaim is also used in the removal of clouds from a title for title insurance.
Clouds are the defects that might be on a deed when a title search is run. Since the defects affect ownership details, your insurer will ask you to clear the defects before you obtain title insurance. To execute your quitclaim successfully, you first need to download a free Michigan quitclaim deed form online.
Select the printable PDF version of the deed online. Note that even before you start filling out the form, you should look at online forms for a general idea of what is expected. Regarding the free deed form, note that the state uses the form quitclaim deed, but the formatting requirements might be different for different counties.
So, ensure that you use the correct form. It must have the full legal description of the real property. The description of the property should include previous ownership details and how the grantor gained ownership of the property.
It should indicate the type of consideration, and the amount of consideration paid for the property. The deed must be signed, sealed and also acknowledged by the grantor for it to work as a conveyance deed. Acknowledgment of the signed document should take place in the notary public.
These details must be listed on the first page of the deed. For the formatting and the content requirements, you need to make sure that the document meets the requirements of the Michigan Compiled Laws. For male grantors, the quitclaim must indicate their marital status.
The language used in the deed should show that the grantor is relinquishing their rights to the property. Recording the deed is also important because it ensures that the property transfer is recorded in the public records. Recording of the quitclaim in the public records is essential for the preservation of the chain of title, and it also ensures that the public is aware of the change in hands.
Before recording the conveyance of your interests in real property, you the grantor has to pay the prescribed transfer tax. The transfer taxes will include the taxes imposed by the county the property is located, as well as the state. This is a common case in property transfers between spouses or parents to children biological, adopted, or stepchildren. A grantor or grantee has a limited period during which they can bring on a lawsuit against the other party. The statute of limitations on quitclaims is two years.
Would you like to use a quitclaim to facilitate the conveyance of residential property to your loved one in Flint, Detroit, Lansing, Ann Arbor, Grand Rapids, Saginaw, Kalamazoo or any other city in Michigan? Get started with our free quitclaim deed form today. Where is the property located? What is your name? Check here if you are an attorney. What is your state bar identification number? State Admitted. What best describes the party who is granting, or giving up some right to, the property?
Is this Grantor married? Yes No. If you were recently divorced, please enter information from your Divorce Judgment. Is this Grantor's spouse deceased? When did this Grantor's spouse pass away? Who will witness this Grantor signing the Quitclaim Deed?
Add another. An individual person A married couple A divorced couple A business A trust. What best describes the party who is being granted, or receiving rights to, the property? Single individual Married couple. Is this Grantee's spouse deceased? When did this Grantee's spouse pass away? Where will this Grantee sign the Quitclaim Deed? Person Business Trust. How will the property be held by the Grantees? Consequently, if the grantor either intentionally or unintentionally informs the grantee that they have interest, when in fact they do not, the grantee will not receive ownership of the property.
Moreover, because there are no warranties to protect the grantee if such a situation occurs, they will be unable to receive any legal remedies in the event it occurs.
A quitclaim deed can be revoked in a very limited set of circumstances. As a valid contract that has been duly recorded, it is almost impossible to reverse the process. The primary circumstance that may allow for the deed to be revoked is if it can be proven that one party was coerced into signing the form.
In order to do so, the party claiming this must provide evidence of such coercion before a judge in a court of law. Another circumstance that may result in a judge overturning the deed is if it can be proven that one party was incompetent at the time of signing. For example, if a person with dementia signed the contract but they did not have a clear idea of what they were doing, this may meet the criteria need to prove incompetence.
A final circumstance that may be grounds for the deed to be revoked is if it is invalidated due to a technical or procedural error. For example, if state law requires the grantor to sign the form before a Notary Public, and they did not do so, this may constitute a procedural error in the eyes of the law.
Some state laws may allow for the filing to take place if the grantor signed and delivered the deed prior to their death, so long as certain other requirements are also met. Whether the deed can be filed after death will also depend on any particular conditions noted in the deed and the nature of the title being held. In this case, the form may be processed as a will, which will require going through the probate process.
If available, it may be more straightforward to file a Transfer on Death Deed also known as a Beneficiary Deed. This type of deed is permitted for use in roughly half of the states.
It allows for the property of a deceased individual to be passed on to another party without the need for probate. In any case, due to the complicated nature of this circumstance, it is best to consult a legal professional to ensure that the correct procedures are taken.
Those looking to complete a quitclaim deed that complies with their state requirements can do so by:. Yes, a quitclaim deed can be used to stop foreclosure, so long their lender agrees. The homeowner should contact the lender ASAP and inquire about programs or other means they can take to stop the process. The other main type of deed form, the warranty deed, contains warranties guarantees that the title is clear and that the grantor has the right to sell the property to the grantee s.
It is more commonly used for instances where a property is sold via the traditional route, rather than being gifted or distributed. In the top left of the deed, the individual that prepared the document typically an attorney , will write their name and address. Create Free Account. What are you looking for? JavaScript Required You are reading this message because your browser either does not support JavaScript or has it disabled.
Quitclaim Deed QGlanding. What type of property is being transferred? Undeveloped land. Back Create My Document Skip this step for now.
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Need Help With This Question? Document Preview About this Document. Quitclaim Deed What is a Quitclaim Deed? What is a property title? What does a Quitclaim Deed do? Who are the parties in a Quitclaim Deed? How do I fill out a Quitclaim Deed?
Generally, you can create and execute a Quitclaim Deed by completing the following steps: List the grantor s and grantee s : Grantors and grantees can be individuals or corporations.
Determine consideration : Consideration is the price the grantee pays the grantor for the property interest. You must list an amount for consideration to have a valid agreement.
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