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Hello! I'm new here. I only have a copy of a warranty deed in Michigan. Is a copy ok? Where is the original? Also is a warranty deed the same as a deed in Michigan? Will I be ok to sell this place with just a copy of the warranty deed? Thank you.
Hello! I'm new here. I only have a copy of a warranty deed in Michigan. Is a copy ok? Where is the original? Also is a warranty deed the same as a deed in Michigan?
You posted the above in another thread, too. (Sticking to one thread is preferable). I'll copy my response here:
Quote:
Originally Posted by jackmichigan
Has the Deed been recorded? If it has been recorded, your copy--if it's a photocopy of the recorded Deed--should have a Liber and Page number on it, as well as a tax certification stamp showing that property taxes had been paid prior to closing. The Deed should also show the amount of transfer taxes which were paid when it was recorded. If in doubt as to whether it has been recorded, you would need to check with the County Register of Deeds office. A number of counties in Michigan have online access to recorded instruments.
If your Deed has NOT been recorded, a copy of a Deed can NOT be recorded. Only original documents can be recorded. You would need to get a Deed to replace the one that had been issued.
There are a few types of Deeds which are used in Michigan, all of which can convey interests in property. The most common are Quit Claim Deeds and Warranty Deeds--and a Warranty Deed is by far the best type to receive. With a Warranty Deed the Grantor is guaranteeing that they hold free and clear title to the property and that they have the right to transfer it to the Grantee.
As long as your Deed has been recorded, having only a copy is fine. The most important reason to keep a recorded Deed--or a copy of the Deed--is so that you have the information on the Deed handy for when you need to draft another Deed to convey the property.
Quote:
Originally Posted by junedh222
Will I be ok to sell this place with just a copy of the warranty deed? Thank you.
With this new line, I will assume that the Deed has been recorded and you're now thinking about selling. Having a copy of the Deed is fine--you just need the information on it to create a new Deed for when you convey the property.
Thank you and sorry I posted all over the place but I was panicking! Oh wait, only half of it got stamped but up top there is Liber and Pg 116!! It does have what looks to be a tax stamp listing $$ amounts and then signed by the Deputy, Kent County, MI. It's not a good stamp so hard to read. Oh, the Title company no longer exists!! Can you please tell me what else I need to save to sell this place. Do I need my mortgage? I have the bank letter saying this place was paid off and I have the Owner's Title Insurance policy. Do I need to keep the mortgage? Bank transfer from mortgage company to the bank? Thank you again and I have lost the other link. Not a good day for me.........
Thank you and sorry I posted all over the place but I was panicking! Oh wait, only half of it got stamped but up top there is Liber and Pg 116!! It does have what looks to be a tax stamp listing $$ amounts and then signed by the Deputy, Kent County, MI. It's not a good stamp so hard to read. Oh, the Title company no longer exists!! Can you please tell me what else I need to save to sell this place. Do I need my mortgage? I have the bank letter saying this place was paid off and I have the Owner's Title Insurance policy. Do I need to keep the mortgage? Bank transfer from mortgage company to the bank? Thank you again and I have lost the other link. Not a good day for me.........
That verifies that the Deed was recorded.
A Discharge oF Mortgage should have been recorded when you paid off your mortgage, but you should keep your bank letter indicating that it was paid off just in case. I'm not sure what you mean by a bank transfer from the mortgage company to the bank (assignment?) but it doesn't sound like you have much to worry about. As long as documents get recorded in a timely fashion it's usually quite easy to be able to draft any documents required for a sale.
What I meant by a bank transfer was that first the mortgage company used D&N Bank to get my payments and then I got switched to Fifth Third Bank to finish. I never got a Discharge of Mortgage but just this bank letter from Fifth Third letting me know that my payments were complete. I will put that letter in my bank box tomorrow but I have nothing else as the Mortgage company just tossed me off to a bank and then to the second bank.
Mortgage assignments are common. As I wrote in the other thread (this is getting confusing), you can check online to see whether a Discharge of Mortgage has been recorded. A Discharge is required in order to release the lien (mortgage) from your property.
Sorry about the confusion! Panic city here.........I posted on the other place, so others can read and learn from you.
There's no need to panic. In the future, simply create one thread and it will be easier on everyone.
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