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Quitclaim Deed from Three (3) Individuals to Four (4) Individuals - Michigan

Quitclaim Deed from Three (3) Individuals to Four (4) Individuals - Michigan 2025

Quitclaim Deed from Three (3) Individuals to Four (4) Individuals - Michigan Preview on Page 1

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The document is a Michigan Quitclaim Deed form designed for the transfer of property from three individuals to four individuals. It provides instructions on completing the form, details on how grantees can hold property (as Tenants in Common, Joint Tenants with Right of Survivorship, or Tenants by the Entirety), and information regarding dower rights in Michigan. Additionally, it outlines exemptions from the Michigan Transfer Tax and includes a disclaimer about the legal use of the forms.

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Click ‘Get Form’ to open the Quitclaim Deed in our editor.
Begin by entering the names and addresses of the three grantors in the designated fields. Ensure accuracy as this information is crucial for legal validity.
Next, input the names and addresses of the four grantees. Specify how they will hold the property—options include Tenants in Common, Joint Tenants with Right of Survivorship, or Tenants by the Entirety.
Fill in the legal description of the property being conveyed. This may require referencing an attached document or Exhibit A.
Indicate if any exemptions apply regarding transfer tax by checking the appropriate boxes and providing necessary details.
Finally, ensure all grantors sign and date the document. Notary acknowledgment is also required for each signature to validate the deed.

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What are the risks of a quitclaim?

However, this approach has certain risks, so its not always the best option. Using a quitclaim deed might create tax issues or result in a loss of control of the property after the transfer. Additionally, the property could still require probate if you dont handle the transfer correctly.

What makes a quitclaim deed invalid?

Potential for Fraud or Duress: If a grantor is coerced or tricked into signing, the deed can later be voided. Difficulty Proving Ownership: Without warranties or title insurance, the grantee may struggle to prove valid ownership in future disputes.

How many people can you put on a quitclaim deed?

You can put as many people as you want as grantees on a quit claim deed. However, the problem with putting all of your children on the property as 1% owners is that you would be giving each of your children a veto power if you want to sell or mortgage the condo.

Who benefits the most from a quitclaim deed?

The quitclaim deed simply transfers any interest they may have to the other party. Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.

What are the requirements for a quitclaim deed in Michigan?

Quitclaim deed requirements in Michigan You will need to include the following: A phrase indicating that the grantor quit claims to the property (Section 565.152) A legal description of the property (Section 565.152) The sum of money that the property title is exchanged for (can be arbitrary) (Section 565.152)

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