By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership. Munising, MI 48962 Fax: 989-785-8080 However, if you transferred the property to your spouse at your death, for example through a transfer-on-death deed, his capital gains basis would be the fair market value of the house when he acquired it. Phone Number: 269-781-0707 How do we add my name to note? The most common scenario where you might want to add someone to your deed is if you own a home and you get married. This is a law that allows a husband and wife to hold a piece of property as if they were a single entity. Depending on your financial situation, this issue may cause you to reconsider making the addition. By signing up you are agreeing to receive emails according to our privacy policy. Obtain the necessary consents from lenders and . Fax Number: 810-667-0293 Once youre sure you want to move forward, decide on what kind of co-ownership you want based on your situation. Phone Number: 231-547-7204 were I to add him to my deed. Fax Number: 734-240-7395 400 Elm Street If you want the property to automatically pass to the other owner with the death of one owner, choose a form of co-ownership that includes the "right to survivorship.". P.O. That means he could pay substantially more in capital gains taxes than if he acquired the property when you died. http://www.tuscolacounty.org/rod/, Van Buren County Register of Deeds As long as you retain interest in the home, its still going to go through probate. "Joint Tenancy and Medicaid Eligibility." Leave the notary section blank. Phone Number: 906-635-6312 Fax Number:231-839-3684 Support wikiHow by Box 885 https://www.co.hillsdale.mi.us/index.php/tm-gov/tsm-gov-deeds, Houghton County Register of Deeds Box 303 Fax Number: 989-734-0506 not mine. ", You must use specific language in your deed to create a joint tenancy. If you look at your property tax statement, it should indicate whether you're receiving any property tax exemptions. In order to accomplish this, you can't just pen in the name on your deed. Fax Number: 231-348-1773 23 E. Pearl Street You, as the "grantor" -- the property owner -- make out a deed conveying title to two "grantees," yourself and your partner. Phone Number: 269-673-0390 County Government Building Ste. There are four common ways to hold title to real estate in Michigan: Tenants in Common. For more detailed information on how to add someone to your house title, scroll down. Fax Number: 989-826-1156 You should also purchase title insurance in case there is a lien or other claim on the land that the title search didn't bring up. Fax Number: 313-224-5884 Take the new deed to the county recorder's office. Maybe you just got married and would like your new spouse listed as part owner of your home. This article helped point the way. When executed and notarized, the quitclaim deed legally overrides the current deed to. Stanton, MI 48888 200 N. Moore Street P.O. You may also have to pay a document transfer tax. Alpena, MI 49707 Room 136 Accessed April 10, 2020. P.O. One of the most common incorrect assumptions in real estate is that someone can be added to a deed. Phone Number: 231-592-0148 Before you add your spouse to your deed, its important that both of you understand how it potentially affects your tax liability so you can make an informed decision and not be caught unaware later on. https://www.newaygocountymi.gov/departments/register-of-deeds/home/, Oakland County Register of Deeds This may include information such as the statement that the transfer is forever, or that the property transfer extends to the second person's assigns. http://www.baycounty-mi.gov/rod/, Benzie County Register of Deeds Fax Number: 989-344-3223 http://www.menomineecounty.com/departments/?department=4a30b23c515d, Midland County Register of Deeds We use cookies to make wikiHow great. P.O. Sacramento County Public Law Library. Complete, review and sign the quitclaim or warranty form. 103 Phone Number: 810-257-3060 This means if the property was sold, you would get 80 percent of the money from the sale and your sister would get the remaining 20 percent. These companies will charge significantly more money than you would pay if you got a copy directly from the recorder's office. Fax Number: 734-222-6528 Articles Real Estate Deeds Made Easy Since 1997. Phone Number: 906-789-5100 They still used my income, but I'm not on the note. https://presqueislecounty.org/register-of-deeds/, Roscommon County Register of Deeds First, you should discuss the property interests with any co-owners, then go through the process of completing and submitting either a quitclaim or warranty deed form. 111 S. Michigan Avenue Phone Number: 517-788-4350 If your lender agrees not to enforce the clause, get the agreement in writing. 800 10th Street, Suite 200 "I did not know that my spouse's financial history would have an impact on certain benefits to which I am entitled. To make changes to your property's deed, you must execute a new document rather than simply adding a name to your existing deed. 301 State Street County Administration Building Box 195 Evaluating Financial and Legal Consequences, {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/3\/3e\/Add-Someone-to-Your-House-Title-Step-1.jpg\/v4-460px-Add-Someone-to-Your-House-Title-Step-1.jpg","bigUrl":"\/images\/thumb\/3\/3e\/Add-Someone-to-Your-House-Title-Step-1.jpg\/aid9653557-v4-728px-Add-Someone-to-Your-House-Title-Step-1.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"