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The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
The Michigan warranty deed is a form of deed that provides an unlimited warranty of title. It makes an absolute guarantee that the current owner has good title to the property. The warranty is not limited to the time that the current owner owned the property.
According to Legal Zoom, a general warranty deed guarantees that: The grantor legally owns the property and has the legal right to transfer it. There are no outstanding mortgages, liens or other claims against the property by any creditor.
How to Transfer Michigan Real Estate Find the most recent deed to the property. It is helpful to begin by locating the most recent deed to the property (the deed that transferred the property to the current grantor).Create the new deed.Sign and notarize the deed.File the deed in the county land records.
The deed does not need to be recorded in the office of the County Recorder of Deeds in order to be valid between the grantor and the grantee. However, it is still very important to record the deed. Recording the deed establishes priority and the sequence of ownership.
Visit our Office We are located at 400 Monroe, 7th floor - above Fishbones Restaurant in Greektown (downtown Detroit). Search fee for a property is $5.00. This fee is waived if you can provide proof you are searching for your personal residence (valid driver's license, for example).
Warranty Deeds With a warranty deed, the grantor (seller) warrants that they have good title to the property and that they have a right to sell the property to the grantee (buyer). ?Good title? means that there are no liens, conditions, or restrictions on the property.
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee).
Warranty Deeds With a warranty deed, the grantor (seller) warrants that they have good title to the property and that they have a right to sell the property to the grantee (buyer). ?Good title? means that there are no liens, conditions, or restrictions on the property.