Q: Explain in layman's terms MCL 207.526 section 6.
My sister and I are currently the co-owners of a house in Michigan. I am doing a quit claim deed to give her my half of the house. What does the above mean?
A: This section provides for tax-exempt transfers of real estate. If your transaction does not meet any of those standards, then you will need to account for taxes to be paid for the transaction.
A: Generally, property conveyances between family members are exempt from the state and country tranfer taxes which is e 8.6% per $1000. You must state the proper state or exemption on the deed. See more at https://provenresource.com/deeds/
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