Michigan Compiled Laws Act 134 Of 1966 Real Estate Transfer Tax (207.501 - 207.513)

• Section 207.501 Real Estate Transfer Tax; Definitions.
  As used in this act: (a) “Treasurer” means the county treasurer. (b) “Person” means every natural person, association or corporation. Whenever used in any...
• Section 207.502 Instruments Executed Within State Subject To Tax.
  (1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when said instrument...
• Section 207.503 Instruments Executed Outside State Subject To Tax.
  There is imposed, in addition to all other taxes, a tax upon all written instruments of the kinds described in section 2 executed without...
• Section 207.504 Rate Of Tax; Statement On Face Of Written Instrument; Affidavit.
  The tax shall be at the rate of 55 cents in a county with a population of less than 2,000,000 and not more than...
• Section 207.505 Exemptions.
  The following instruments and transfers shall be exempt from this act: (a) Instruments where the value of the consideration is less than $100.00. (b)...
• Section 207.506 Bankruptcy Or Insolvency Proceedings; Transfer To Receivers.
  No tax shall be imposed by this act upon any written instrument which conveys property or any interest therein to any receiver, administrator or...
• Section 207.507 Documentary Stamps; Purchase, Methods Of Affixation, Cancellation.
  The tax imposed by this act shall be evidenced by the affixing of a documentary stamp or stamps to every instrument subject to the...
• Section 207.508 Preparation Of Stamps; Duty Of Treasurer, Use Of Tax Meter Machine.
  The state treasurer shall prescribe and prepare for use by the county treasurer, adhesive stamps of such denominations and quantities as shall be necessary...
• Section 207.509 Revenue, Disposition; Credit To General Fund.
  All revenue received under this act shall be deposited in the treasury of the county where the tax is collected to the credit of...
• Section 207.510 Tax To Be Paid Only Once; Exemptions; New Consideration.
  It is the intent of this act that the tax imposed by this act be paid only once. No tax shall be imposed on...
• Section 207.511 Recording, Requirements; Detachment Of Affidavit; Use.
  (a) No written instrument subject to this act shall be recorded in the office of any register of deeds of any county of this...
• Section 207.512 Unlawful Acts; Penalty For Violations.
  (1) It shall be unlawful for any person to: (a) Fraudulently cut, tear or remove from a document any documentary stamp. (b) Fraudulently affix...
• Section 207.513 Effective Date.
  This act shall take effect immediately upon the repeal of the tax imposed by and paid to the United States on real estate transfer...

Last modified: October 10, 2016