Quitclaim Deed vs Warranty Deed: What Michigan Homeowners MUST Know!
Legacy Title Agency
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Quitclaim Deed vs Warranty Deed: What Michigan Homeowners MUST Know!
70 просмотров · 12 дней назад
Legacy Title Agency
103 подписчика
70 просмотров · 12 дней назад
Taking title to a property through a quitclaim deed might seem like a fast, inexpensive shortcut, but it carries significant legal risks if you don't understand what you are actually receiving. Many property owners mistakenly refer to it as a "quick claim" deed, assuming it functions just like any standard real estate transfer. However, in Michigan real estate law, a quitclaim deed offers zero warranties or legal guarantees of clear ownership.
In this video, Caitlyn Leszczynski, real estate attorney with Legacy Title Agency and veteran of over 30,000 closings breaks down everything you need to know about quitclaim deeds, when they should actually be used, and what steps you must take if you plan to sell a property acquired through one.
In this comprehensive breakdown, we cover:
00:00 Introduction
00:31 Quitclaim Deed vs. Warranty Deed: Why a warranty deed guarantees clear title and protects buyers against third-party claims, while a quitclaim deed operates on "buyer beware," conveying only whatever interest the grantor holds—whether that is complete ownership or absolutely nothing.
3:03 When to Use a Quitclaim Deed: Appropriate use cases, including transferring property into a Revocable Living Trust, adding a spouse to title, related-family transfers, or clearing up old title defects, liens, and fractional interests.
5:49 Tax Certification & Recording Differences: Why warranty deeds require a mandatory $5 county tax certification to confirm all delinquent taxes are paid ($35 total recording fee) versus a quitclaim deed ($30 recording fee) which bypasses delinquent tax verification.
7:30 Selling Property Acquired via Quitclaim Deed: What title examiners look for in your chain of title, how title companies investigate prior conveyances, and when additional curative measures—such as a quiet title action—are needed to establish marketable title.
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