This form is a Quitclaim Deed where the Grantor is an individual and the Grantees are two individuals. Grantor conveys and quitclaims the described property to Grantees. Grantees take the property as tenants in common or joint tenants with the right of survivorship. This deed complies with all state statutory laws.
A quitclaim deed is a legal document used in real estate transactions to transfer ownership from an individual granter to two individual grantees in Sterling Heights, Michigan. This deed type ensures that any ownership rights or interests the granter has in the property are transferred to the grantees. The Sterling Heights Michigan Quitclaim Deed from Individual Granter to Two Individual Grantees is a specific type of quitclaim deed that is commonly used for property transfers involving two individuals as grantees. It is essential to understand the different types or variations that exist in the context of Sterling Heights, Michigan: 1. Sterling Heights Michigan Quitclaim Deed with Joint Tenancy: This variation of the quitclaim deed establishes joint tenancy between the two individual grantees. Joint tenancy means that both grantees have an equal and undivided interest in the property, and in the event of one grantee's death, the surviving grantee automatically receives full ownership rights over the property. 2. Sterling Heights Michigan Quitclaim Deed with Tenancy in Common: Another variation of the quitclaim deed is a tenancy in common. With tenancy in common, the two individual grantees own separate and individual interests in the property. Unlike joint tenancy, there is no right of survivorship. If one grantee passes away, their share of the property passes to their estate or designated beneficiaries as per their will, rather than automatically transferring to the remaining grantee. When preparing a Sterling Heights Michigan Quitclaim Deed from Individual Granter to Two Individual Grantees, it is crucial to include specific keywords to ensure clarity and legality: 1. Granter: The individual who currently holds ownership rights to the property and is transferring them to the grantees. 2. Grantee: The two individuals who will become the new owners of the property. 3. Property Description: Accurate details about the property, including its address, legal description, lot number, and any other relevant identifying information. 4. Consideration: The value given in exchange for the property, typically mentioned as "for valuable consideration." 5. Legal language: Precise and legally binding statements confirming the granter's intent to transfer ownership, without any warranty or guarantee on the property's condition or legal title. When executing a Sterling Heights Michigan Quitclaim Deed from Individual Granter to Two Individual Grantees, it is advisable to consult with a real estate attorney or a professional specializing in real estate law. They can ensure that the deed is properly prepared, executed, and recorded to protect the interests of all parties involved in the transaction.
