Mesa, AZ asked in Real Estate Law for Michigan

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?

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2 Lawyer Answers
Brent T. Geers
Brent T. Geers
Answered
  • Grand Rapids, MI
  • Licensed in Michigan

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.

David Soble
PREMIUM
David Soble
Answered
  • Farmington Hills, MI
  • Licensed in Michigan

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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