Posts Tagged ‘Foreign Investors’

Quiet Title Actions for the Foreign Investor in Detroit

Monday, October 29th, 2012

Quiet Title Actions in Michigan

 

Some Considerations for the Foreign Investor in Detroit….

The Wayne County Tax Auction of Property is coming to a close and many local and foreign investors may want to consider filing a Quiet Title Action for those properties acquired through the auction. To quiet title, the Investor must prove it has title to the property which is superior to the title claims of all other persons with an interest in the property.

If the Investor fails to make a prima facie case of title, judgment may be entered for defendant. Once the Investor makes a prima facie case, the defendant(s) must prove a superior right or title.

Property purchased at a tax foreclosure sale:  Purchasers of property from a foreclosing governmental unit following property tax foreclosure may need to complete a quiet title action in order to obtain title that a title insurance company will insure.  Furthermore, MCL 211.79a contains special provisions for quieting title to “abandoned property” purchased at a tax foreclosure sale.

Recording Judgment:  The judgment quieting title may be recorded, pursuant to MCL 600.2935.  It may be useful to include language in the judgment stating that the Investor may use the judgment with the effect of a deed for any purpose necessary to transfer, sell, convey, or occupy the property.

If you are a foreign investor looking to do business in the Metropolitan Detroit area, this is just one of many items that can be important and integral to your investments here. If you have questions, Contact Edward Hudson or Nathan White in our office.