Quitclaim Deed from Grantor Trust to Five Individual Grantees - Michigan: Fill out & sign online

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Is a quit claim deed OK?

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.

What type of deed offers the grantee the fullest protection against claims to the title?

A warranty deed is a legal real estate document and protects the buyer against future claims to the title of the property. Most lenders require a warranty deed for properties they finance. The seller of a property is known as the grantor and the buyer is referred to as the grantee.

What is the purpose of a quit claim deed?

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.

Can I transfer a house to a relative?

Despite the amounts involved, it is possible to transfer ownership of your property without money changing hands. This process can either be called a deed of gift or transfer of gift, both definitions mean the same thing. Executing a deed of gift can be a complex undertaking, but it isnt impossible.

How much does it cost to transfer a property title in Michigan?

State Transfer Tax Rate $3.75 for every $500 of value transferred. County Transfer Tax Rate $0.55 for every $500 of value transferred.

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