Considering transferring real estate by quit claim deed when your client is transferring his or her home to his or her Trust? Instead, consider transferring by warranty deed, in most instances, as a best practice. When a quit claim deed is recorded with the register of deeds office, the deed is recorded without the county verifying the legal description or the tax status of the property, which can lead to problems when the owner sells or transfers the property in the future. When a warranty deed is recorded, the county must check the legal description to make sure it is cited correctly, and tax certification is required to ensure that all property taxes are paid to date. The simple use of a warranty deed can save hundreds of dollars in attorney fees and a delayed closing at future sale, especially after an individual passes away and the estate or Trust must handle curing title.
For further information, contact Joan Skrzyniarz in the Troy, Michigan office at 248-433-7521.