Galloway and Collens, PLLC
248-397-5507
248-397-5507

Understanding tax deeds and quiet title actions in Michigan

The residential and commercial real estate markets in Detroit, and throughout Michigan, have been taken on a proverbial roller-coaster ride in recent years. Despite past turmoil, investing in real estate remains a vital interest for homeowners, investors and businesses alike. Protecting financial interests in any real estate investment is critical. With many properties changing hands due to tax liens foreclosure, mortgage foreclosure and multiple investment transactions, the risk of finding a cloud on the title to a specific piece of property is real.

Sales Of Foreclosed and Tax-Forfeited Properties Remain High In Michigan

Sales of tax-forfeited properties and foreclosed properties increased dramatically following the real estate market meltdown in 2007, according to MiBiz. The upward trend has continued, creating an increase in property available through tax auctions each year. Investors, future homeowners and businesses can often purchase real estate at low cost in a tax auction. These transactions, however, can be more complex than a more traditional real estate transaction. Notably, the Foreclosing Governmental Unit (FGU) will typically transfer the property through a quit-claim deed, providing the buyer with whatever title the FGU held - which could include a variety of defects that cloud the title.

Purchasing foreclosed real estate or tax forfeited property may require taking further action to protect the real estate investment. Many title insurance underwriters will balk at insuring property purchased at a tax auction without addition legal action to clear the title. A skilled real estate lawyer who has a strong command of the rules and procedures to successfully prosecute a quiet title action is critical to safeguarding property rights in non-traditional real estate transactions.

No Comments

Leave a comment
Comment Information
  • dbusiness - 2016 Top Lawyers
  • dbusiness - Top Lawyers
  • Lead Counsel Rated Attorney
  • Senior & Caregiver
  • American Appartment Owners Association - Member since 2015
  • Same Address
  • ICLE Contributor
Email Us For A Response

Contact Our Metro Detroit Attorneys

Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC, by calling 248-397-5507.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

26075 Woodward Avenue Suite 200 Huntington Woods, MI 48070-1341 Toll Free: 888-349-0309 Phone: 248-397-5507 Fax: 248-545-2520 Huntington Woods Law Office Map