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Michigan Real Estate Transfer Tax

Michigan Real Estate Transfer Tax

MCL 207.505 MCL 207.526

A written instrument subject to the tax imposed by MCL 207.505 Sec. 5 and MCL 207.526 Sec. 6 shall state on its face the TOTAL CONSIDERATION of the real property. (See acts for details). Transfer tax imposed by each act shall be collected unless said instrument of transfer is exempt from either or both acts and such
Exemptions are stated on the face of the deed.

The tax shall be upon the person who is the seller or the grantor.

In the case of an exchange of two properties, the deeds transferring title to each are subject to tax, and in each case shall be computed on the basis of the actual value of the property conveyed.

Conveyances affecting property situated in more than one county must state the portion of the sale price attributable to each parcel lying in the separate counties and transfer tax must be paid to each county for that portion of the sale price.

Documentary stamps shall be purchased only in the county in which property is located.

No fee is charged for filing the “Real Estate Transfer Valuation Affidavit”, but the instrument should state that a real estate transfer valuation is being filed.

A Conveyance of an easement or a right of way is subject to transfer tax, unless an exemption is stated.

For information on the following, please visit the State of Michigan's Tax Department Website:

Real Estate Transfer Tax Exemptions
State Exemptions See MCL 207.526
County Exemptions See MCL 207.505

Real Estate Transfer Tax Valuation Affidavit

This form must be filed when you choose not to enter the amount paid for real estate on the deed. It is not necessary when the amount paid is entered on the deed. This form must be completed and signed by either the seller or his/her authorized agent. Affidavit is permanently filed with the Register, and is not a matter of public record.

Form can be found on Web Site.
www.michigan.gov/documents/strealesttran1_2544_7.pdf

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