Sterling Heights Michigan Warranty Deed from two Trustees to Husband and Wife as Joint Tenants with the Right of Survivorship

• Category: Michigan Real Estate - Deeds - Warranty
• State: Michigan
• City: Sterling Heights
• Control #: MI-SDEED-8-16
• Format: Word; Rich Text

Description

This form is a Warranty Deed where the grantors are two trustees and the grantees are husband and wife. A Sterling Heights Michigan Warranty Deed from two Trustees to Husband and Wife as Joint Tenants with the Right of Survivorship is a legal document that transfers ownership of a property from two trustees to a husband and wife, allowing them to hold the property jointly with the right of survivorship. This type of deed ensures that if one spouse passes away, their ownership interest automatically transfers to the surviving spouse without the need for probate. In Sterling Heights, Michigan, there are two commonly used types of warranty deeds for this specific situation: 1. General Warranty Deed: A general warranty deed provides the highest level of protection to the buyer, as it guarantees that the property is free from any claims or encumbrances, both during the trustees' ownership and before. It assures the buyer that the property is being transferred with a clean title, and if any issues arise in the future, the trustees are liable to compensate the buyers. 2. Special Warranty Deed: Unlike a general warranty deed, a special warranty deed only guarantees that the trustees have not caused any encumbrances or claims on the property during their ownership. It does not cover any existing claims from before the trustees' ownership. This type of deed offers a slightly lower level of protection compared to a general warranty deed. Sterling Heights, Michigan, recognizes these two types of warranty deeds to facilitate the transfer of property ownership between trustees and a married couple as joint tenants with the right of survivorship. It is crucial for all parties involved to thoroughly understand the contents of the deed and seek legal advice to ensure a smooth and secure property transfer process.

A Sterling Heights Michigan Warranty Deed from two Trustees to Husband and Wife as Joint Tenants with the Right of Survivorship is a legal document that transfers ownership of a property from two trustees to a husband and wife, allowing them to hold the property jointly with the right of survivorship. This type of deed ensures that if one spouse passes away, their ownership interest automatically transfers to the surviving spouse without the need for probate. In Sterling Heights, Michigan, there are two commonly used types of warranty deeds for this specific situation: 1. General Warranty Deed: A general warranty deed provides the highest level of protection to the buyer, as it guarantees that the property is free from any claims or encumbrances, both during the trustees' ownership and before. It assures the buyer that the property is being transferred with a clean title, and if any issues arise in the future, the trustees are liable to compensate the buyers. 2. Special Warranty Deed: Unlike a general warranty deed, a special warranty deed only guarantees that the trustees have not caused any encumbrances or claims on the property during their ownership. It does not cover any existing claims from before the trustees' ownership. This type of deed offers a slightly lower level of protection compared to a general warranty deed. Sterling Heights, Michigan, recognizes these two types of warranty deeds to facilitate the transfer of property ownership between trustees and a married couple as joint tenants with the right of survivorship. It is crucial for all parties involved to thoroughly understand the contents of the deed and seek legal advice to ensure a smooth and secure property transfer process.