When transferring a property, it is essential to ensure that the taxes on the property are current, as any outstanding taxes could cause issues with recording the deed. It is not uncommon to come across deceased owners, making it challenging to determine who has the authority to sign on behalf of the estate. To move through the transaction, the title company must open a probate estate to have a court-appointed representative sign the necessary documents. Although the probate process can seem daunting, it is relatively simple for smaller estates, and it is a necessary step to transfer the property formally out of the estate. It is crucial to remember that even if a will seems clear, going through probate is still necessary to avoid any surprises.
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Real estate property taxes explained
When transferring property in Michigan, it’s important to ensure that taxes are current, as they become a lien on the property when the tax bill is issued. Failure to pay taxes will result in the deed not being recorded.
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Types of real estate liens
Lien on a title is a common occurrence and is typically caused by government or personal judgment liens. The process of obtaining a release can be complicated, and it may take time to get a payoff from the government.
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Types of real estate easements
This video discusses easements and the issues that can arise when dealing with them in real estate transactions. Easements are legal documents that give someone the right to cross a property to access their own property.
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