Legal Question in Real Estate Law in Michigan

Michigan Real Estate Law

I and my wife jointly own a condo in Michigan. Is it possible to transfer the entire ownership to her? The condo is not paid off and there is still an unpaid loan on it.

Asked on 2/17/09, 12:31 pm

3 Answers from Attorneys

Charles W. Field Charles W. Field, Attorney at Law

Re: Michigan Real Estate Law

Beware of the "due on sale" clause. Since the property is in MI, you should ask your question to a MI attorney.

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Answered on 2/18/09, 6:54 pm

Renee Walsh LawRefs Nonprofit

Re: Michigan Real Estate Law

You can transfer the house to her, but not your responsibility on the loan, unless she were to refinance and pay off the loan that you both took. If you desire to transfer the ownership to her, then a quit claim deed would do the trick. (Know however, that if you transfer ownership, you will of course not have any legal rights to the property, but would still have to pay the mortgage. Should your marriage deteriorate, this would be a huge obligation.) Furthermore, if you are planning to file bankruptcy, you would have to wait quite some time before doing so in order to avoid the right of the trustee to avoid the transfer as a fraudulent transfer.

If you choose the quit claim deed route, I will be glad to assist you in the process. If you would like to speak with me, please contact me via my website at or via telephone.

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Answered on 2/17/09, 1:19 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Michigan Real Estate Law

A transfer often triggers the "due on sale" clause in the loan documents, meaning the entire loan will be immediately due and payable. Read your loan documents. Further, it is not just a bankruptcy trustee who might have a problem with the transfer. If you have outstanding bills and are transferring the property to try to shield it from creditors, it is generally known as a "fraudulent transfer." In short, it is not as easy as just executing a deed and many people only ask questions such as yours when they are having some financial difficulties.

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Answered on 2/17/09, 2:10 pm

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