Michigan Compiled Laws Act 330 Of 1993 State Real Estate Transfer Tax Act (207.521 - 207.537)

AN ACT to impose a state tax on the transfer of an interest in real property; to provide for the administration of this act; to prescribe the powers and duties of certain state and local officers; to provide for the collection and distribution of the tax; and to prescribe penalties and provide remedies.

History: 1993, Act 330, Eff. Apr. 1, 1994

Section 207.521 Short Title.
This act shall be known and may be cited as the “state real estate transfer tax act”. History: 1993, Act 330, Eff. Apr. 1,
Section 207.522 Definitions.
As used in this act: (a) "Controlling interest" means more than 80% of the total value of all classes of stock of a corporation;...
Section 207.523 Written Instruments Subject To Tax; Person Liable For Tax; Payment Date.
(1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when the instrument...
Section 207.524 Written Instruments Executed Outside Of State.
There is imposed, in addition to all other taxes, a tax upon all written instruments described in section 3 executed outside of this state...
Section 207.525 Tax Rate; Statement Of Total Value Of Real Property Being Transferred; Affidavit; Value Of Real And Personal Property Stated Separately.
(1) Beginning on January 1, 1995, except as otherwise provided in this section, the tax imposed under sections 3 and 4 is levied at...
Section 207.526 Written Instruments And Transfers Of Property Exempt From Tax.
The following written instruments and transfers of property are exempt from the tax imposed by this act: (a) A written instrument in which the...
Section 207.527 Bankruptcy Or Insolvency Proceeding; Exemption From Tax.
A tax is not imposed by this act upon a written instrument that conveys or transfers property or an interest in the property to...
Section 207.528 Stamp As Evidence Of Tax Payment; Other Methods Of Cancellation.
(1) Except as provided in section 9, the payment of the tax imposed by this act shall be evidenced by the affixing of a...
Section 207.529 Stamps; Prescribing And Preparing For Use; Requisition Of Stamps By County Treasurer; Use Of Tax Meter Machine; Alternative Means.
(1) The treasurer shall prescribe and prepare for use by a county treasurer adhesive stamps of the denominations and quantities that are necessary for...
Section 207.530 Disposition Of Tax.
The tax imposed under this act shall be collected by the county treasurer and deposited with the treasurer as provided in this section. By...
Section 207.531 Crediting Tax Proceeds.
The treasurer shall credit the proceeds of the tax collected by county treasurers under this act to the state treasury to the credit of...
Section 207.532 Payment Of Tax; Written Instruments Not Subject To Tax.
(1) The tax imposed by this act shall be paid only once. A tax shall not be imposed on a written instrument that transfers...
Section 207.533 Recording Written Instruments; Stamps Required; Reason For Exemption To Be Stated On Written Instrument; Effect Of Noncompliance With Act; Use And Disclosure Of Affidavit.
(1) A written instrument subject to the tax imposed by this act shall not be recorded in the office of the register of deeds...
Section 207.534 Prohibited Conduct; Violation As Misdemeanor.
(1) A person shall not do any of the following: (a) Fraudulently cut, tear, or remove a documentary stamp from a written instrument. (b)...
Section 207.535 Tax In Addition To And Collected With Tax Imposed Under Mcl 207.501 To 207.513.
The tax imposed under this act is in addition to and may be collected with the tax imposed under Act No. 134 of the...
Section 207.536 Administration Of Act.
This act shall be administered by the revenue division of the department of treasury under Act No. 122 of the Public Acts of 1941,...
Section 207.537 Conditional Effective Date.
This act shall not take effect unless Senate Joint Resolution S is submitted to the voters and the following bills are enacted into law:...

Last modified: October 10, 2016