![]() To execute your quitclaim successfully, you first need to download a free Michigan quitclaim deed form online. Legal Requirements for the Quitclaim’s validity Since the defects affect ownership details, your insurer will ask you to clear the defects before you obtain title insurance. Clouds are the defects that might be on a deed when a title search is run. The quitclaim is also used in the removal of clouds from a title for title insurance. The deed ensures the transfer of legal real property ownership into a corporation or an LLC. You could also use the quitclaim to transfer your property rights into a trust, as part of your estate planning strategy. This happens all the time when an owner changes their name after obtaining a title for a property. The quitclaim could also be used to effect an owner’s name change. 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. 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. ![]() Since the document comes without any warranties, it is common between families and generally people who trust each other. Note that the deed is mistakenly referred to as a quick claim deed – while this is expressive of how fast the document facilitates real property ownership transfers it is an incorrect name. The document also goes by other names like quitclaim deed form or the quitclaim. As a result, this document is also called a non-warranty deed as it differs from the other documents that offer warranty for titles. However, unlike the other types of real estate deeds, this document does not offer any warranties on the property transfer meaning that the grantee doesn’t get as much protection from the deed and they might not have any legal recourse against the grantee in the event of title issues. The person who gives up their rights to the property is the grantor while the person who receives rights to the property is called the grantee. You could also think of it as the document used to grant someone else rights to a named property. To be specific, the quitclaim deed in Michigan refers to the legally binding legal instrument that allows someone with ownership rights to a property to give up their rights to the property. It is the most popular real estate deed, and its use and processes are the least complicated. These deeds allow for the effortless and legal transfer of real estate, land or residential property from one party to another. The Michigan law gives several types of real estate deeds. Legal Requirements for a Quitclaim Deed in Michigan Do any of these situations apply to this Quitclaim Deed?.Required for an oil and gas lease valued at less than $100.00.The debt on the property being transferred is more than the property's value.Transfers full ownership to a business you own or you, as owner, of a business are transferring property from the business to your individual name.Necessary to transfer title after the terms of a land contract are met.Required for clarification after a legal name change. ![]() Required to clarify the real estate is community property.Required to clarify the real estate is the separate property of a spouse.Complies with a court order which did not require the sale of the property but rather a transfer between parties.Changes tenancy between the property owners (ex: from joint tenancy to tenancy in common with rights of survivorship).Transfers land into or out of a Living Trust.Transfers the property to pay off a loan or debt.Transfers the property as security for a debt (to obtain a mortgage, for example).Clarifying a deed previously filed which does not change the property owners or their interest (ex: to add a middle initial for an owner).Part of a divorce settlement giving interest to an ex-spouse. ![]()
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