Deeds are vital elements of Michigan real estate property transactions. Ensuring the deed is written correctly and signed in accordance with the law can protect you from deed fraud and prevent future delays when selling real estate or applying for a loan.
If you need to prepare, revise, or correct a deed in Ann Arbor, MI, call Bassett Murray Law Group at (734) 930-9200.
Types of Deeds in Michigan
The State of Michigan recognizes the following types of deeds:
- Warranty deeds. A warranty deed guarantees the validity of the title and the absence of any claims or liens on the property, thus providing the strongest available protection for the buyer.
- Covenant deeds. A covenant deed affords somewhat less security in a real property transfer. This type of deed asserts that the current owner did not involve the property in claims or debts during their time of ownership but doesn’t cover any encumbrances that may have occurred before the current owner had authority over the property.
- Quitclaim deeds. A quitclaim deed is the quickest but the least secure way to transfer property ownership. This type of deed only passes whatever ownership the person holds in the property to another party, with no warranties.
- Ladybird Deed. This is also known as a “transfer on death deed” or an “enhanced life estate deed”. In essence, it is a way of naming a new owner or owners if you when you die. This type of deed, if done correctly, will avoid probate proceedings over the property after your death.
The appropriate type of deed may depend on the transaction. For example, a real estate transaction between two unrelated parties typically calls for a warranty deed, while a transfer between parent and child may be able to be accomplished by a quitclaim deed. An experienced lawyer will be able to look at your circumstances and recommend the best option for your situation.
Recording Requirements for Deeds in Michigan
A real property transaction in Michigan involves the following steps:
- Locating the property’s latest deed—a.k.a. the deed that passed the property to its current owner
- Drafting a new deed that includes all state’s requirements
- Getting the grantor’s (seller’s) signature on the document and notarizing the deed
- Filing the deed with the local county register of deeds office
- Using the proper forms to notify the property assessor
Do You Need a Deed Attorney?
A deed error could hinder any future property transfer, cause difficulties when you’re applying for a loan, and even expose you to property ownership challenges. At Bassett Murray Law Group, we have over 25 years of experience drafting, revising, and correcting real estate documents. Our skilled legal team can:
- Ensure that the deed document supplies all the necessary information and proper guarantees
- Recommend the most appropriate deed for your transaction
- Help you avoid mistakes when adding or removing a name from a deed
- Assist you in transferring real property from private ownership to a business or trust
- Avoid property tax problems by filing the correct forms with the Assessor.
Bassett Murray Law Group, PLLC: Deed Preparation Lawyers in Ann Arbor, MI
Are you preparing to buy or sell real property, add someone else to a deed, or transfer real estate ownership to a trust? The experienced real estate attorneys of Bassett Murray Law Group will make sure your deed and any other legal documents, like liens or leases, are valid and complete.
For reliable legal help with deeds and other real estate documents, call our law firm at (734) 930-9200 or contact us online to set up a consultation.