A written instrument given as security or an assignment or discharge of the security interest. Estimates are not guaranteed and may be different based on your individual situation. When you leave an original instrument with us it is recorded, scanned and microfilmed by the most modern methods ensuring safety and replacement at any time. The charge for this service is $5.00. Washtenaw County Treasurer Video on Transfer Tax Exemptions Real Estate Transfer Tax "Controlling interest" transfer tax - Certain states have adopted statutes that apply real estate transfer taxes to transfers of interests in entities that own real estate. Currently, the IRS allows you to exclude $250,000 of capital gains if you're single and $500,000 if you're married. A written instrument that this state is prohibited from taxing under the United States Constitution or federal statutes. If the amount of the submitted check exceeds . This property is not currently available for sale. The state tax is calculated at $3.75 for every $500 of value transferred and the county tax is calculated at $0.55 for every $500 of value transferred. How Much Are Transfer Taxes in Michigan? 800-555-2098 Click To Call . Computing real estate transfer tax is done in increments of $500. Riverbank Finance LLC is proud to offer home loans to residents of the cities of, Michigan Property Transfer Tax Calculator, STATE REAL ESTATE TRANSFER TAX ACT - MCL 207.525 Sec. A transfer of a controlling interest in an entity with an interest in real property if the transfer of the real property would qualify for exemption if the transfer had been accomplished by deed to the real property between the persons that were parties to the transfer of the controlling interest. The District of Columbia imposes a deed transfer tax of 1.1% on residential property worth less than $400,000 and 1.45% on property worth more than $400,000. Frequently Asked Questions. The tax shall be upon the person(s) who is the seller or grantor. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. In addition to the state tax, each individual county levies an additional transfer tax of $0.55 per $500. The property ID number. For instance, the SRETT on a house that sold for $300,000 would be $2,250. Real estate transfer taxes are taxes paid upon the transfer of real property from one party to another. 2023 Riverbank Finance LLC, All rights reserved. 207.526 Written instruments and transfers of property extempt from tax. . We offer this because we're confident you're going to love working with a Clever Partner Agent. A written instrument evidencing a contract or transfer of property to a person sufficiently related to the transferor to be considered a single employer with the transferor under section 414(b) or (c) of the internal revenue code of 1986, 26 USC 414. Skip to main content. So lets do a couple of examples. State of Michigan Tax Recovery Specialist Address 348 Waverly Rd, Suite 125 Holland, MI 49423 Phone 616-848-1656 Fax 616-953-8818 Email lisa@transfertaxsolutions.com . Take a look. . Tax evasion is nothing to flirt with, so it's best to work with a qualified agent to ensure that you don't get yourself into trouble with local or state authorities. In accordance with the Michigan Constitution as amended by Michigan statutes, a transfer of ownership causes the taxable value of the transferred property to be uncapped Instruments executed outside of Michigan if the contract or transfer evidenced thereby concerns property wholly located within Michigan. If the value of the real estate transferred is $100 or more, payment of State and County transfer tax is required. (Solved). This subdivision is retroactive and applies to a sale, exchange, assignment, or transfer beginning 4 years immediately preceding the effective date of the amendatory act that amended this sentence subject to the statute of limitations period provided in section 27a of 1941 PA 122, MCL 205.27a. The purchaser's (of transferee's) contact info. | Terms of Use, free Michigan Real Estate Transfer Tax Calculator, Click here to calculate your Michigan real estate transfer taxes, Michigan Real Estate Transfer Tax Calculator, How to Add a New Owner to the Title Deed to Real Estate, How to Remove a Deceased Owner from a Title Deed to Real Estate, How to Correct a Deed | Corrective Deeds and Scriveners Affidavits. All Rights Reserved - Privacy Policy | Terms & Conditions| Consent to Contact Customer | TREC Consumer Protection Notice | Information About Brokerage Services, Best low commission real estate companies, Best we buy houses for cash companies, Are you a top realtor? This would include stamp duty and property registration charges. You will need Adobe Acrobat Reader installed to view the tax forms listed below. 01-23) Mail to: Michigan Department of Treasury Report of Fuel Sales Tax Prepayment and Environmental Protection Department 771410 Regulatory Fee for Refiners, Terminal Operators and Importers P.O. City transfer tax and County transfer tax. It is recommended that you consult with a tax attorney for advice on your situation. When you sell a property, you pay transactional costs, which are similar to the cost you incurred while buying the property. 5 (Act 330 of 1993) - State, REAL ESTATE TRANSFER TAX - MCL 207.504 Sec. A transfer between any limited liability company and its members if the ownership interests in the limited liability company are held by the same persons and in the same proportion as in the limited liability company prior to the transfer. Skip to last item. Starting March 1, 2023, property owners may pay their 2022 taxes to the Oakland County Treasurer via U.S. mail, the drop box or in-person during our business hours. Clevers Concierge Team can help you compare local agents and negotiate better rates. NOTE: This tool is intended to be used for illustrative purposes only. A land contract in which the legal title does not pass to the grantee until the total consideration specified in the contract has been paid. The tax is typically based on the value of the property. Contracts for the sale or exchange of real estate or any interest therein (or any combination of sales or exchanges) or any assignment or transfer thereof. Clevers Concierge Team can help you compare local agents and find the best expert for your search. Transfer taxes are due when the deed is submitted for recording. Property transfer tax is an assessment charged by both the State of Michigan and the individual county. The exemption matters - at 0.75%, state transfer tax on the sale of home for $200,000, for example, is $1,500. A judgment or order of a court of record making or ordering a transfer, unless a specific monetary consideration is specified or ordered by the court for the transfer. However, if you paid 0.86% in transfer taxes upon closing ($4,300), you can add that onto the cost basis to bring it up to $204,300. The actual cost for transfer tax as of 2018 is .0086 %. Real estate transactions can be confusing and intimidating events filled with tons of small print and legalese. 2023 Kershaw, Vititoe & Jedinak, PLC All Rights Reserved, Disclaimer| Site Map| Privacy Policy |Business Development Solutions by FindLaw, part of Thomson Reuters, Full-Service Lawyers In Monroe, Serving Clients Throughout Michigan. The written instrument must clearly state the exemption being claimed on its face before recording. A written instrument in which the value of the consideration for the property is less than $100.00. In the case of an exchange of two properties, the deeds transferring title to each are subject to Michigan Real Estate Transfer tax, and in each case shall be computed on the basis of the actual value of the property conveyed. Sec. MCL 207.525. That is with a qualified personal residence trust (or QPRT). The state charges $3.75 for each increment and the county charges $.55 (which an be up to $.75 as authorized by the county board of commissioners with a population more than 2,000,000 or more). Pay your delinquent property taxes. Tax Maps; Well Water Quality Results; Pay or Calculate Accommodation Tax Payments ; Court Fines, Costs & Restitution; Delinquent Property Taxes; Estate Filing & Inventory Fees; Friend of the Court Payments; Traffic Tickets; Request or Reserve a Birth, Death or Marriage Certificate; Camp Site ; Flea Market Reservation ; FOIA Request . Jan. 1, 1968. 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. How Much Are Transfer Taxes in Michigan? Transfer tax imposed by each act shall be collected unless said instrument of transfer is exempt from either or both acts and such exemptions are stated on the face of the deed. Hours. An instrument of foreclosure is subject to county transfer tax based on the sale price stated on the face of the instrument. The state transfer tax rate is $3.75 for every $500 of value transferred. Whether you're buying or selling, finding a top-notch real estate is one of the most important pieces of the puzzle. Redemptions of Tax-Reverted Properties 24 . In addition to the state tax, each individual county levies an additional transfer tax of $0.55 per $500. Courthouse: 8am-5pm Clerk: 8am-4:30pm In strong markets, usually the buyer pays the tax, since the seller can choose between multiple buyers until they find one who will pay. The total percentage is less than 1%. 207.526 Written instruments and transfers of property exempt from tax. View the Site Tour. Back in 1994, as part of general tax reform, the voters of the State of Michigan enacted Proposal A. Your email address will not be published. The beginning of one year and the close of another is often a time of reflection on the past 12 months. View the State Real Estate Transfer Tax FAQs, MI Earned Income Tax Credit, Retirement Tax, and Inflation Relief Initiatives, Collections/Audits/Appeals collapsed link, Notice IIT Return Treatment of Unemployment Compensation, https://dev.michigan.local/som/json?sc_device=json, About the Streamlined Sales and Use Tax Project, Sales, Use, and Withholding Tax Payment Options, Go to Notice IIT Return Treatment of Unemployment Compensation, Taxpayer Rights, Rules, and Responsibilities, Go to Property Tax Forfeiture and Foreclosure. [MCL 205.93(3); MSA 7.555(3)(3)]. Sold. The state charges $3.75 for each increment and the county charges $.55 (which an be up to $.75 as authorized by the county board of commissioners with a population more than 2,000,000 or more). Instead of the $0.55 county transfer tax rate applied to most counties . KELLIE HILLIER-GENSCHAW, RE/MAX 1ST REALTY. Transfer Tax stamps shall be purchased only in the county in which the property is located. Free. Individual Income Tax . A deed in fulfillment of a land contract must reference the liber & page or document number and date of the land contract. As the respective local county must record the change of ownership, a real estate transfer tax is charged. Your average tax rate is 11.67% and your marginal tax rate is 22%. Learn more. Generally, excise taxes are not triggered if the transfer is made to a wholly owned entity where ownership interests do not change. To request a statement, call (248) 858-0611 or use the button below. By subscribing to our mailing list you will get the latest news from us. To get in touch with a qualified local real estate agent, fill out our form and someone will contact you shortly. All Rights Reserved. No problem. View the State Real Estate Transfer Tax FAQs . The nonpartisan House fiscal agency said in January that the budget surplus could reach over $9 billion by fall and that the state's revenues could activate a trigger that would permanently lower the income tax rate from 4.25% to 4.05%. 1. See more homes for sale in. 5 and MCL 207.526 Sec. Since most states do not charge sales tax on real estate sales, transfer taxes act as somewhat of a stand-in that allows the state and county to generate revenue on home sales. Transfer tax imposed by each act shall be collected unless said instrument of transfer is exempt from either or both acts and such exemptions are stated on the face of the deed. AN ACT to impose a tax upon written instruments which transfer any interest in real property; to provide for the administration of this act; and to provide penalties for violations of this act. (Each Michigan county may also assess a separate county transfer tax, which is in addition to the Michigan SRETT). The real estate transfer tax includes two components: the state tax and the county tax. In a typical real estate transaction, the buyer and seller both pay property taxes, due at closing. Current Transfer Tax rate is $8.60 per $1,000, rounded up to the nearest $500. 4 (Act 134 of 1966) - County). Oceana County Building The state tax is calculated at $3.75 for every $500 of value transferred and the county tax is calculated at $0.55 for every $500 of value transferred. If you're buying a home, you may instead be eligible for Clever Cash Back, netting you a portion of the home's purchase price as a bonus check. Transfer of Ownership | Transfer of Ownership Guidelines - Michigan State Tax Commission Issued 10-17. Flexible. Please contact M.S. A taxpayer that claimed a refund under this subdivision prior to the effective date of the amendatory act that added this sentence and whose refund was denied and not appealed in accordance with section 21 or 22 of 1941 PA 122, MCL 205.21 and 205.22, may claim a refund under this subdivision notwithstanding section 22 of 1941 PA 122, MCL 205.22. Fillable Forms Disclaimer: Currently, there is no computation, validation, or verification of the information you enter, and you are still responsible for entering all required information. In the case of an exchange of two properties, the deeds transferring title to each are subject to Michigan Real Estate Transfer tax, and in each case shall be computed on the basis of the actual value of the property conveyed. County Transfer Tax Rate - $0.55 for every $500 of value transferred. County Transfer Tax: $1.10 per thousand. This statute provides, in pertinent part: . A transfer tax is charged by a state or local government to complete a sale of property from one owner to another. (b) A written instrument evidencing a contract or transfer . This property is not currently available for sale. MI. View Latest Treasury Guidance. (This equates to approximately of 1% of the value of the property.) File the deed in the county land records. Fees State Transfer Tax. Rate of County Tax - $.55 for each $500 or fraction thereof. Home Government CountyDepartments RegisterofDeeds MichiganTransferTaxExemptions, 705 S. Stephenson Ave. There is no transfer tax for mortgages in Michigan. 9:00 AM - 5:00 PM. Otherwise, the transfer taxes must be paid at the county treasurers office and a documentary stamp must be affixed to the instrument indicating payment before it can be recorded. Application for State Real Estate Transfer Tax (SRETT) Refund. The state real estate transfer tax is levied at the rate of $3.75 for every $500.00 or fraction of $500.00 of the total value of the property being transferred. $ 7.50 per thousand; Copy & Search Fees. Filing is mandatory This property is not currently available for sale. Also worth noting is the $500 value threshold. If you have received a Form 1098-F from the Michigan Department of Treasury, please note this is an IRS form the Michigan Department of Treasury is required to send and is for FEDERAL tax informational purposes only. Need to make a correction? The transfer tax imposed shall be collected unless the transfer is exempt from either or both taxes (state and county). The amounts required will be noted on the HUD-1 that both parties sign during the closing procedure. A transfer between any partnership and its partners if the ownership interests in the partnership are held by the same persons and in the same proportion as in the partnership prior to the transfer. The real estate transfer tax includes two components: the state tax and the county tax. (In some counties the tax rate can be up to $0.75/$1000 of value transferred.) Tax Manager - ITTS - Operational Transfer Pricing - Intercompany Effectiveness (ICE) - Central EY Detroit, MI 2 weeks ago Be among the first 25 applicants These fees, however, may be paid by either party if agreed to differently in the purchase contract. This cost varies, depending on the purchase price and comprise the conveyancers fees plus VAT, and the transfer duty payable to SARS. If you have additional questions, please reach out to your tax preparer or the IRS. The tax shall be upon the . Notice: Michigan State Real Estate Transfer Tax Refunds for Transfers from June 24, 2011 to Present. Real estate transfer taxes are charged by the vast majority of U.S. states, including Michigan. Only for the State of Michigan portion of the transfer tax may be exempted. . Automated document assembly software is copyright 2023 lexVentures LLC. Note: Online and telephone payments . Secure. It is helpful to begin by locating the most recent deed to the property (the deed that transferred the property to the current grantor). Under normal circumstances, the seller will be required to pay a portion of the sales price to both the county the home was sold in and to the state of Michigan. No legal services are provided on this site. The tax shall be upon the person (s) who is the seller or grantor. Homer is their son, an exempt relationship, but Shirley is not an exempt . Bay Harbor . The Michigan Department of Treasury website provides a transfer tax refund form for filing the request for refund, along with directions as to the required documentation for obtaining the refund. The state charges $3.75 for each increment and the county charges $.55 (which an be up to $.75 as authorized by the county board of commissioners with a population more than 2,000,000 or more). When a house is bought or sold, many states and counties levy taxes on the value of the property being transferred from one party to the other. In California, the seller traditionally pays the transfer tax, thus the seller usually pays the Los Angeles County transfer tax. Take a look. The following exemptions apply to BOTH the state and county real estate transfer tax: The following additional exemptions apply ONLY to state real estate transfer taxes and NOT county real estate transfer taxes: Sellers and grantors should be aware of these valuable exemptions before downloading a sample quitclaim deed from the Internet and trying to handle the conveyance themselves while incurring all the applicable state and county transfer taxes. Generally, the seller will pay a prorated amount for the time theyve lived in the space since the beginning of the new tax year. What Is Michigans First-Time Home Buyer Savings Program? Michigan Transfer Tax Exemptions. We hire only the best licensed loan officers to serve our clients and take pride in our superb customer service. The Use Tax Act sets forth the relationships that exempt Michigan vehicle transfers from tax. 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. The property qualifies for a 100% Principal Residence Exemption. Riverbank Finance LLC does not provide tax or legal advice. Documents filed in the Register of Deeds office must be eligible for recording. 20 Acres Off was last sold on Feb 23, 2023 for $32,000 (0% higher than the asking price of $32,000). $24,900. Transfer Tax Rates. State Transfer Tax Exemptions (MCL 207.526) County Transfer Tax Exemptions (MCL 207.505) The tax shall be upon the person who is the seller or the grantor. Our extensive list of mortgage programs allows us to offer competitive low wholesale mortgage rates. A conveyance from a spouse or married couple creating or disjoining a tenancy by the entireties in the grantors or the grantor and his or her spouse. The following is a list of real estate transfer tax exemptions that apply generally to transfers of Michigan real estate. Welcome to Michigan Treasury Online (MTO)! In this article, we're going to go over who pays these taxes in Michigan, how much they'll cost you, and how to reduce your tax exposure. Seller closing costs in Michigan The home seller typically pays the real estate transfer taxes. A conveyance from an individual to that individuals child, stepchild, or adopted child. Instructions may require some information to be handwritten on the form (signatures, for example). This marginal . Let's look at an example: Say you bought your home for $200,000 the cost basis and you're currently selling it for $500,000. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. These are taxes linked to transferring the property deeds from the seller to the buyer. Luckily, a qualified real estate agent can help walk you through the red tape and make the entire process a much simpler and pleasant experience. 1091 Lake Michigan Dr NW, Grand Rapids, MI 49504 is a lot/land. Re-access the interview and create a new document at no additional charge. Before getting into the gist of the opinion, let's review a little history. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. MCL 207.505 Sec 5(County) MCL 207.526 Sec 6(State) 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 acts for . The state transfer tax rate in Michigan is $3.75 for every $500 of property value, or 0.75% of the transferred property's value. Sold. A conveyance of an easement or a right of way is subject to transfer tax. It's $0.55 for every $500 of value transferred. | Form 1098-F If you have received a Form 1098-F from the Michigan Department of Treasury, please note this is an IRS form the Michigan Department of Treasury is required to send and is for FEDERAL tax informational purposes only. It is indexed and returned promptly by U.S. Mail unless otherwise noted. If your vehicle sold for less than $500, you can claim the fair market value or $500, whichever . Copy and paste this code into your website. 4 (Act 134 of 1966) - County, Michigan Real Estate Transfer Tax Table - $0 to $100,000, Michigan Real Estate Transfer Tax Table - $100,000 to $200,000, Michigan Real Estate Transfer Tax Table - $200,000 to $300,000, Michigan Real Estate Transfer Tax Table - $300,000 to $400,000, Michigan Real Estate Transfer Tax Table - $400,000 to $500,000. Transfer of real property to a first-degree relative is not a transfer of ownership. Only pay when youre ready to create the deed. The People of the State of Michigan enact: 207.501 Real estate transfer tax; definitions. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. MTO is the Michigan Department of Treasury's web portal to many business taxes. Transfer tax imposed by each act shall be collected unless said instrument of transfer is exempt from either or both acts and such exemptions are stated on the face of the deed. Find the most recent deed to the property. Total Transfer Tax N/A. Michigan imposes a tax upon the seller or grantor of the following instruments recorded at the county register of deeds: Fortunately, there are several exemptions available at law to avoid the real estate transfer tax. Security Interests 33 . If you need assistance or advice regarding any property transfer in the State of Michigan, do not hesitate to contact the property law attorneys at Kershaw, Vititoe & Jedinak PLC. If the value of the real estate tranferred is $100.00 or more, payment of the state and County transfer tax is required. The first column describes the exemption; the second column contains the Michigan citations that exempts the transfer from transfer tax at the state level; and the third column contains the Michigan citations that exempts the transfer from transfer tax at the state level. Rate of County tax is $.55 for each $500.00 or fraction therof. MCL 207.525 (1). What are transfer costs? Grand Rapids. Transfer tax in Michigan is broke up into two parts. What Are The Penalties For Extortion In Michigan? A written instrument evidencing a contract or transfer that is not to be performed wholly within this state only to the extent the written instrument includes land lying outside of this state. The Best Place to Get a Home Loan! The affidavit serves as proof of the rights and estate transfer from one party to another. Fees. In most cases, sellers pay the transfer tax. Sec. Share this page on your favorite Social network. Property Transfer Affidavit - 92284 bytes : 3278: L-4260a: Notice to Assessor of Transfer of the Right to Make a Division of Land - 90408 bytes : Computing real estate transfer tax is done in increments of $500. Tax Certificates. Agendas, Minutes & Meeting Postings. Visit the State of Michigan Department of Treasury for more answers to questions about the Michigan Real Estate Transfer Tax. Unless otherwise agreed upon, transfer taxes are customarily paid by the seller of the home. The Michigan legislation states: The county tax is calculated in the same method but at a rate of 55 cents per $500. The county tax rate is 55 cents for each $500 or fraction thereof. The seller is responsible for this fee unless it is otherwise agreed to be paid by the buyer. Conveyances affecting property situated in more than one county must state the portion of the sales price attributable to each parcel lying in the separate counties and transfer tax must be paid to each county for that portion of the sale price. 1. A transfer of real property will trigger excise tax if there is a change in beneficial ownership. Pay 2022 Property Taxes. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. The property's price in US dollars. Transfer tax must be paid at the time of recording for all documents which transfer an interest in property unless a proper exemption is noted. A Michigan Property Records Search locates real estate documents related to property in MI. Find Michigan Property Records. This exemption does not apply to a subsequent transfer of the foreclosed property by the entity that foreclosed on the mortgage. After you donate your vehicle, we'll mail you a tax form to help with the process. (See acts for details.) What Is A Notice of Lis Pendens In Michigan? For Sale. P.O. Monday - Friday The $180 checks would have cost the state around $800 million, lowering revenues enough to avoid the trigger. Join Clevers network. How Does Domestic Violence Affect Divorce Proceedings In Michigan? was paid, the party who paid the tax (almost always the seller), can obtain a refund for a sale on or after June 24, 2011. How to Transfer Real Estate with a Power of Attorney, Free Online Deed Forms and Why You Shouldnt Use Them, This deed is a written instrument in which the value given in exchange for the property is less than $100.00, This deed is a written instrument evidencing a contract or transfer that is not to be performed wholly within the State of Michigan only to the extent the written instrument includes land lying outside of Michigan, This deed is a written instrument that Michigan is prohibited from taxing under the United States constitution or federal statutes, This deed is a conveyance from a spouse or married couple creating or disjoining a tenancy by the entireties in the grantors or the grantor and his or her spouse, This deed is a conveyance from an individual to that individuals child, stepchild, or adopted child, This deed is a conveyance from an individual to that individuals grandchild, step-grandchild, or adopted grandchild, This deed is a written instrument used to straighten boundary lines and no monetary consideration was given, This deed is a written instrument to confirm title already vested in a grantee, including a quitclaim deed to correct a flaw in title, This deed is a written instrument evidencing the transfer of mineral rights and interests, This deed is a written instrument creating a joint tenancy between two or more persons and at least one of the persons already owns the property, This is a written instrument evidencing a lease, including an oil and gas lease, or a transfer of a leasehold interest, This is a written instrument evidencing an interest that is assessable as personal property, This is a written instrument evidencing the transfer of a right and interest for underground gas storage purposes, This is a judgment or order of a court of record making or ordering a transfer, unless a specific monetary consideration is specified or ordered by the court for the transfer, This is a land contract in which the legal title does not pass to the grantee until the total consideration specified in the contract has been paid, This is a transfer made pursuant to a bona fide sales agreement made before April 1, 1994, and the sales agreement cannot be withdrawn or altered, or contains a fixed price not subject to change or modification, This deed is a written instrument conveying an interest in property for which an exemption is claimed under section 7cc of the general property tax act, 1893 PA 206, MCL 211.7cc, and the state equalized valuation of that property is equal to or lesser than the state equalized valuation on the date of purchase or on the date of acquisition by the seller or transferor for that same interest in property and the transaction was for a price at which a willing buyer and a willing seller would arrive through an arms-length negotiation, This deed is a written instrument given as security or an assignment or discharge of the security interest, This deed is a written instrument given in foreclosure or in lieu of foreclosure of a loan made, guaranteed, or insured by the United States, the State of Michigan, a political subdivision or municipality of the State of Michigan, or an officer of the United States or of State of Michigan, or a political subdivision or municipality of the State of Michigan, acting in his or her official capacity, This deed is a written instrument given to the United States, the State of Michigan, or one of their officers acting in an official capacity as grantee, pursuant to the terms or guarantee or insurance of a loan guaranteed or insured by the grantee, This deed is a written instrument transferring an interest in property pursuant to a foreclosure of a mortgage including a written instrument given in lieu of foreclosure of a mortgage (does not apply to a subsequent transfer of the foreclosed property by the entity that foreclosed on the mortgage), The deed is a written instrument in which the grantor is the United States, the State of Michigan, a political subdivision or municipality of the State of Michigan, or an officer of the United States or of the State of Michigan, or a political subdivision or municipality of the State of Michigan, acting in his or her official capacity, The deed is a transfer between any corporation and its stockholders or creditors, between any limited liability company and its members or creditors, between any partnership and its partners or creditors, or between a trust and its beneficiaries or creditors and the transfer is to effectuate a dissolution of the corporation, limited liability company, partnership, or trust and it is necessary to transfer the title of real property from the entity to the stockholders, members, partners, beneficiaries, or creditors, The deed is a transfer between any limited liability company and its members and the ownership interests in the limited liability company are held by the same persons and in the same proportion as in the limited liability company prior to the transfer, The deed is a transfer between any partnership and its partners and the ownership interests in the partnership are held by the same persons and in the same proportion as in the partnership prior to the transfer, The deed is a transfer of a controlling interest in an entity with an interest in real property and the transfer of the real property would qualify for exemption if the transfer had been accomplished by deed to the real property between the persons that were parties to the transfer of the controlling interest, The deed is a transfer in connection with the reorganization of an entity and the beneficial ownership is not changed, The deed is a written instrument evidencing a contract or transfer of property to a person sufficiently related to the transferor to be considered a single employer with the transferor under section 414(b) or (c) of the Internal Revenue Code, The deed is a written instrument conveying an interest from a religious society in property exempt from the collection of taxes under section 7s of the general property tax act, 1893 PA 206, MCL 211.7s, to a religious society if that property continues to be exempt from the collection of taxes under section 7s of the general property tax act, 1893 PA 206, MCL 211.7s, State Transfer Tax Rate $3.75 for every $500 of value transferred, County Transfer Tax Rate $0.55 for every $500 of value transferred.