United States:
Tax Certification When Transferring Real Estate
03 July 2018
Dickinson Wright PLLC
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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.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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