Real Estate Transfer Tax; Definitions - Mich. Comp. Laws Section 207.501
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Michigan Laws > Taxation > Real Estate Transfer Tax; Definitions - Mich. Comp. Laws Section 207.501
207.501 Real estate transfer tax; definitions.
Sec. 1.
As used in this act:
(a) "Treasurer" means the county treasurer.
(b) "Person" means every natural person, association or corporation. Whenever used in any penalty clause the term "person", as applied to associations, means the partners or members thereof, and as applied to corporations, the officers thereof.
(c) "Value" means the current or fair market worth in terms of legal monetary exchange at the time of the transfer.
History: 1966, Act 134, Eff. Jan. 1, 1968
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Am. 1968, Act 327, Imd. Eff. July 3, 1968
Section: 207.441 207.442 207.443 207.444 207.445 207.446 207.447 207.501 207.502 207.503 207.504 207.505 207.506 207.507 207.508
Last modified: March 17, 2013
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