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2006 Michigan Compiled Laws - Act 330 of 1993


STATE REAL ESTATE TRANSFER TAX ACT

Act 330 of 1993

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




The People of the State of Michigan enact:

DocumentDescription
Section 207.521Short title.
Section 207.522Definitions.
Section 207.523Written instruments subject to tax; person liable for tax.
Section 207.524Written instruments executed outside of state.
Section 207.525Tax rate; statement of total value of real property being transferred; affidavit; value of real and personal property stated separately.
Section 207.526Written instruments and transfers of property exempt from tax.
Section 207.527Bankruptcy or insolvency proceeding; exemption from tax.
Section 207.528Stamp as evidence of tax payment; other methods of cancellation.
Section 207.529Stamps; prescribing and preparing for use; requisition of stamps by county treasurer; use of tax meter machine; alternative means.
Section 207.530Disposition of tax.
Section 207.531Crediting tax proceeds.
Section 207.532Payment of tax; written instruments not subject to tax.
Section 207.533Recording written instruments; stamps required; reason for exemption to be stated on written instrument; effect of noncompliance with act; use and disclosure of affidavit.
Section 207.534Prohibited conduct; violation as misdemeanor.
Section 207.535Tax in addition to and collected with tax imposed under §§ 207.501 to 207.513.
Section 207.536Administration of act.
Section 207.537Conditional effective date.

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