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What does a quitclaim deed do? A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.
If you are the person transferring your property to your ex-spouse, you must sign the quitclaim deed in front of a notary. Then give the deed to your ex-spouse. Your ex-spouse will need to sign the deed and take it to be recorded at the Register of Deeds.
Quitclaim deeds lack certain protections and promises found in other types of deed to real property. Because of this, they should only be used under certain circumstances. These include transferring real estate between close family members, for instance, from a parent to a child.
How to Transfer Michigan Real Estate Find the most recent deed to the property. It is helpful to begin by locating the most recent deed to the property (the deed that transferred the property to the current grantor). Create the new deed. Sign and docHub the deed. File the deed in the county land records.
You can prepare a quitclaim deed using the Do-It-Yourself Quitclaim Deed (after Divorce) tool. If you are the person giving your share of the property to your ex-spouse, sign the quitclaim deed in front of a notary. Then give the quitclaim deed to your ex-spouse or your ex-spouses lawyer.
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The Michigan quitclaim deed form gives the new owner whatever interest the current owner has in the property when the deed is signed and delivered. It makes no promises about whether the current owner has clear title to the property.
Current Transfer Tax rate is $8.60 per $1,000, rounded up to the nearest $500. $7.50 is State Transfer Tax and $1.10 is County Transfer Tax. Transfer tax imposed by each act shall be collected unless said instrument of transfer is exempt from either or both acts and such exemptions are stated on the face of the deed.
Quitclaim deeds transfer only the part of the property the grantor actually owns, so if the grantor owns one-fourth of the property, thats all he can transfer to the grantee. If youre the grantee, be mindful that quitclaim deeds can be risky if you dont know or trust the grantor or know the propertys history.
Statute of Limitations on a Quitclaim Deed in Michigan For example, challenging a quitclaim deed given by a close family member or a court-ordered sale has a five-year statute of limitations.
That it be signed by the grantor; That the grantors signature be witnessed by a notary, who must acknowledge and seal the deed; That the deed be delivered and accepted by the grantee.

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