Michigan real estate transfer valuation affidavit 2025

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  1. Click ‘Get Form’ to open the Michigan Real Estate Transfer Valuation Affidavit in our platform.
  2. Begin by filling in the 'County of Property' and 'City or Township of Property' fields at the top of the form. This information is crucial for identifying the location of the real estate transaction.
  3. Next, enter the names and mailing addresses of all sellers in the designated section. Ensure that each seller's information is accurate to avoid any issues during processing.
  4. Proceed to fill out the names and mailing addresses of all purchasers. Similar to sellers, accuracy here is essential for legal documentation.
  5. Indicate the type and date of document being used, whether it’s a Land Contract or Deed. If applicable, attach any contracts related to controlling interests.
  6. Complete sections regarding cash payments, debts relieved, and total consideration by adding relevant amounts from previous sections.
  7. Finally, ensure you sign and date the certification section. If someone other than a seller signs, include their name and title as well.

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MICHIGAN REAL ESTATE TRANSFER TAX 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.
Calculating the Michigan Real Estate Transfer Tax State Transfer Tax Rate $3.75 for every $500 of value transferred. County Transfer Tax Rate $0.55 for every $500 of value transferred.
The tax shall be upon the person who is the seller or the grantor. In 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.

People also ask

Gifting property to family members with deed of gift Despite the amounts involved, it is possible to transfer ownership of your property without money changing hands. This process can either be called a deed of gift or transfer of gift, both definitions mean the same thing.
Current Transfer Tax rate is $8.60 per $1,000, rounded up to the nearest $500. $7.50 is State Transfer Tax and $1.10 is County Transfer Tax. 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.
Current Transfer Tax rate is $8.60 per $1,000, rounded up to the nearest $500. $7.50 is State Transfer Tax and $1.10 is County Transfer Tax. 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.
How Much Are Transfer Taxes in Michigan? The state transfer tax rate in Michigan is $3.75 for every $500 of property value, or 0.75% of the transferred propertys value. In addition to the state tax, each individual county levies an additional transfer tax of $0.55 per $500.
Sellers are typically responsible for covering the real estate transfer tax in Michigan, which includes a state tax of $3.75 for every $500 of value and an additional county tax of $0.55 for every $500 of value.

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