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How much does it cost to transfer a property title in Michigan?

State Transfer Tax Rate $3.75 for every $500 of value transferred. County Transfer Tax Rate $0.55 for every $500 of value transferred.

What is a warranty deed in Michigan?

Warranty Deeds With a warranty deed, the grantor (seller) warrants that they have good title to the property and that they have a right to sell the property to the grantee (buyer). Good title means that there are no liens, conditions, or restrictions on the property.

How do I transfer ownership of a property in Michigan?

How to Transfer Michigan Real Estate Find the most recent deed to the property. It is helpful to begin by locating the most recent deed to the property (the deed that transferred the property to the current grantor). Create the new deed. Sign and docHub the deed. File the deed in the county land records.

Is a warranty deed the same as a deed in Michigan?

The Michigan warranty deed is a form of deed that provides an unlimited warranty of title. It makes an absolute guarantee that the current owner has good title to the property. The warranty is not limited to the time that the current owner owned the property.

How much is the transfer tax?

Transfer Tax (Local Treasurers Office): this tax is for the barter, sale, or any other method of ownership or title of real property transfer, at the maximum rate of 50% of 1%, or 75% of 1% in cities and municipalities within Metro Manila, of a propertys worth.

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