What will the trustee do when I transfer my property? I live in Michigan.

A Michigan deed transfer is used by the residents of Michigan whenever they need to transfer ownership of a property. Properties can be transferred either through a sale or non-sale method.

Sale transfers involve another party buying the property, while non-sale transfers include transfers between spouses, children, etc. The third kind, which could either be a sale or non-sale transfer, involves ownership transfer from a borrower to a loaner.

Any kind of transfer, whether sale or non-sale, involves the use of a deed transfer. This deed must contain the names of the current owner of the property as well as the name of the future owner, the property's legal description and the grantor's signature.

However, to a trustee, the most important kind of document in a property transfer is the deed of trust. This document states that ownership is transferred to a trust or a company that will hold the property as collateral for a loan. After the loan has been paid in full by the borrower, he/she then regains ownership of the property he/she entrusted to the loaner.

The trustee's sole power is that he/she can sell the property if ever the borrower fails to honor the clauses of the deed of trust. In this case, the property is made available through a foreclosure sale auction, and the proceeds are used by the trustee to pay-off the loaner.

It is advised that you do not go about any property transfers without consulting an attorney. Ownership transfer of properties involve a lot of legal documents, seeking advise from a legal expert can be of great help.