This form is a Quitclaim Deed where the grantor is an individual and the grantees are six individuals. The grantees take the property as tenants in common or as joint tenants with the right of survivorship. Grantor conveys and quitclaims the described property to grantees. This deed complies with all state laws.
Oakland Michigan Quitclaim Deed — One Individual to Six Individuals is a legal document that transfers ownership of a property from one individual to six different individuals in Oakland County, Michigan. This type of quitclaim deed allows for multiple recipients to be listed as new owners, dividing the property rights equally among them. The Oakland Michigan Quitclaim Deed — One Individual to Six Individuals is commonly used in situations where the current owner wants to transfer their property rights to multiple individuals, such as family members or business partners. By utilizing this deed, the property can be effectively distributed among the new owners, enabling them to have equal ownership interests. A quitclaim deed is a legal instrument used for transferring interest or title in a property, unlike a warranty deed, which guarantees that the granter has valid title to the property. This type of deed conveys only the interest the granter holds at the time of the transfer, without providing any warranties or assurances of clear title. It is crucial for the grantee to conduct a thorough title search and obtain title insurance when accepting a quitclaim deed to ensure there are no hidden encumbrances or claims against the property. Different types of Oakland Michigan Quitclaim Deed — One Individual to Six Individuals include: 1. General Quitclaim Deed: This is the most common type of quitclaim deed used in Michigan, which transfers ownership interest from one individual to multiple individuals without any warranties. 2. Limited Warranty Quitclaim Deed: This type of quitclaim deed provides limited warranties from the granter to the grantees, guaranteeing that the granter has not encumbered the property during their ownership. 3. Joint Tenancy Quitclaim Deed: If the six individuals wish to hold the property as joint tenants, this type of quitclaim deed can be used. It establishes rights of survivorship, meaning that if one owner passes away, their share automatically transfers to the remaining owners. 4. Tenants in Common Quitclaim Deed: Alternatively, if the six individuals want to hold the property as tenants in common, this type of quitclaim deed can be used. It allows for unequal ownership interests and does not include rights of survivorship. Each owner's share can be designated explicitly. When completing an Oakland Michigan Quitclaim Deed — One Individual to Six Individuals, it is essential to consult with a real estate attorney or title company to ensure the proper execution of the deed and the accurate transfer of ownership rights. It is also crucial for all parties involved to fully understand the implications and consequences of this legal document before proceeding with the transfer.
