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The Michigan Legislature Website is a free service of the Legislative Internet Technology Team in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, and the Michigan Senate. 207.526 Written instruments and transfers of property exempt from tax. MCL 205.22, and section 34 of this act, if the. 207.526 Written instruments and transfers of property exempt from tax. Sec. 6. The following written instruments and transfers of property are exempt from the tax imposed by this act: a A written instrument in which the value of the consideration for the property is less than $100.00. 1893 PA 206, MCL 211.7cc, if the state equalized. The Michigan Legislature Website is a free service of the Legislative Internet Technology Team in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, and the Michigan Senate. Answer: No. MCL 207.526hi provides an exemption from the SRETT when the grantor is the United States, the State of Michigan, a political subdivision or municipality within the State of Michigan, or an "officer" of either the United States or this state or of a municipality of this state, while acting in his or her. Exempt under MCL 207.526Or MSA 7.456 26p A written instrument evidencing the transfer of mineral rights. and interests. q A written instrument creating a joint tenancy between two or more. persons if at least one of the persons already owns the property. r A transfer made pursuant to a bona fide sales agreement made.

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 75 cents as authorized by the county board of commissioners in a county with a population of 2,000,000 or more for each $500.00 or fraction thereof of the total value. 17/06/41 · The Michigan Legislature Website is a free service of the Legislative Internet Technology Team in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, and the Michigan Senate. MCL 207.505 Sec 5County MCL 207.526 Sec 6State A written instrument subject to the tax imposed by MCL 207.505 Section 5 and MCL 207.526 Section 6 shall state on its face the TOTAL CONSIDERATION of the real property, or a Real Estate Transfer Valuation Affidavit disclosing the total consideration shall be filed at the time the instrument is presented for recording see above named.

Read this complete Michigan Compiled Laws, Chapter 207. Taxation § 207.526 on Westlaw FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the. who paid SRETT on behalf of the seller under “u”, later believes that the sale or transfer of the property qualifies for exemption under MCL 207.526 see Page 2, a request for a refund of the SRETT may be made by filing this completed form with the Michigan Department of Treasury along with the required documentation see Part 4. STATE OF MICHIGAN – TRANSFER TAX EXEMPTIONS Reference: MCL 207.526, MSA 7.45626 Real Estate Transfer Tax Sec. 6. The following written instruments and transfers of property are exempt from the tax imposed by this act: a A written instrument in which the value of the consideration for the property is less than $100.00.

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