Full question:
I bought a house in Detroit, MI and received a quit claim deed because i agreed to take over the back taxes that were still owed. Now that the taxes are paid in full. I would like to apply for a HUD improvement loan to fix the house but their requirement is to have a warranty deed; so am I able to transfer my quit claim deed to myself as a warranty deed: would I use the listed form warranty deed individual to individual?
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: New York
Answer:
It may be possible to change the original transfer to you, which might have been better accomplished using a warranty deed, subject to any tax liens. To change the last transfer, you could use a Deed of Correction. A correction deed is meant to address an original deed that both parties agree was erroneous. Once accepted by the grantee, the terms of a correction deed take precedence, and the title is determined solely by the new grant.
However, a correction deed cannot validate a void deed. A deed is considered void if it is invalid for any legal purpose, while a voidable deed remains operative until set aside by a court. If there was a mutual mistake regarding the deed that does not reflect the parties' intentions, relief may be sought in equity.
Generally, a correction deed is appropriate when there is no fraud, no rights of third parties are involved, and equity could reform the deed. Most cases concerning correction deeds involve mistakes in property descriptions, but they can also address errors in the names of parties involved. For example, if an original deed intended to convey property to a person and their spouse was incorrectly executed, a confirmatory deed could be warranted.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.