Legal Question in Real Estate Law in Michigan
Quitclaim deed or Warranty deed?
Three years ago I bought a property and the deed is in my cousin�s name, now that I have paid off the mortgage my cousin wants to transfer the property to me and we have been advised to use Quitclaim deed, my question and concerns are as follow:
Shall I use Quitclaim deed or Warranty deed?
Should the property be transferred to me as a Gift?
Are there any tax implications on my part or his part? What taxes should we be paying?
Should I do it through a real stat Attorney?
Thanking you.
1 Answer from Attorneys
Re: Quitclaim deed or Warranty deed?
You are asking for legal advice that cannot be provided via an on-line forum such as this one. Attorneys contributing to this site can give general legal information without meeting with you and reviewing documents, not specific legal advice. It would be irresponsible for an attorney to give you legal advice this way. You really need to have a consultation with an attorney who can review your documents and your situation specifically, but not necessarily a real estate attorney. You may also need to consult with an accountant or a tax attorney for tax advice concerning your proposed transaction.
Good luck.
Rochelle Guznack
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
