STATE REAL ESTATE TRANSFER TAX ACT
Act 330 of 1993
207.523 Written instruments subject to tax; person liable for tax; payment date; refund.
Sec. 3.
(1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when the instrument is recorded:
(a) Contracts for the sale or exchange of property or any interest in the property or any combination of sales or exchanges or any assignment or transfer of property or any interest in the property.
(b) Deeds or instruments of conveyance of property or any interest in property, for consideration.
(c) Contracts for the transfer or acquisition of a controlling interest in any entity only if the real property owned by that entity comprises 90% or more of the fair market value of the assets of the entity determined in accordance with generally accepted accounting principles which shall be recorded.
(2) The person who is the seller or grantor of the property is liable for the tax imposed under this act.
(3) The tax imposed under this act shall be paid to the county treasurer where the real property is located not later than 15 days after the delivery of the instrument effecting the conveyance by the seller or grantor to the buyer or grantee or not later than 15 days after the transfer of a controlling interest in any entity with an interest in the real property. For purposes of this section, the date of the instrument effecting the transfer is presumed to be the date of delivery of the instrument.
(4) After the tax is paid, if the seller or the buyer who has paid the tax on behalf of the seller believes that the property was eligible for an exemption under section 6 at the time of the transfer, the seller or the buyer who has paid the tax on behalf of the seller may request a refund from the department of treasury in a form and manner determined by the department of treasury. The department of treasury shall pay the refund if it determines that the property was eligible for the exemption under section 6 at the time of the transfer. This subsection is intended to be retroactive and applies to a sale, exchange, assignment, or transfer beginning 4 years immediately preceding the effective date of the amendatory act that added this subsection.
History: 1993, Act 330, Eff. Apr. 1, 1994 ;-- Am. 2008, Act 473, Eff. Jan. 1, 2007 ;-- Am. 2015, Act 217, Imd. Eff. Dec. 15, 2015
Compiler's Notes:
Enacting section 2 of Act 473 of 2008 provides:
"Enacting section 2. This amendatory act shall take effect January 1, 2007."
Notes of Decisions
Eastbrook Homes, Inc. v. Dep't of Treasury, 820 N.W.2d 242 (Mich. Ct. App. 2012).
· cites it 9× “When petitioner sells a speculative home and conveys *339 the property by deed to the buyer, it pays a transfer tax on the value of the land and the value of the home as required under SRETTA, MCL 207.523. A custom-built home is a home built for a specific, i.”
Hertel v. Bank of Am. N.A., 897 F. Supp. 2d 579 (W.D. Mich. 2012).
· cites it 4× “, Register of Deeds for Ingham County, commenced an action in state court against Fannie Mae, Freddie Mac, and six other defendants, seeking unpaid transfer tax pursuant to the State Real Estate Transfer Tax Act, Mich. Comp. Laws § 207.523 (1993), and the County Real Estate…”
Oakland Cnty. v. Fed. Hous. Fin. Agency, 871 F. Supp. 2d 662 (E.D. Mich. 2012).
“*671 The Michigan exemption states that a deed is exempt from the Transfer Taxes if it is: A written instrument in which the grant- or is the United States, this state, a political subdivision or municipality of this state, or an officer of the United States or of this state, or…”
Lake Forest Partners 2, Inc v. Dep't of Treasury, 720 N.W.2d 770 (Mich. Ct. App. 2006).
· cites it 13× “523 provides: (1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when the instrument is recorded: (a) Contracts for the sale or exchange of property or any interest in the property or any combination of…”
Liem Ngo v. Dep't of Treasury, 498 Mich. 1 (Mich. 2015).
“1 Upon the sale of their homes, the petitioners paid a transfer tax under MCL 207.523 of the State Real Estate Transfer Tax Act (SRETTA), MCL 207.”
Gardner v. Dep't of Treasury, 306 Mich. App. 546 (Mich. Ct. App. 2014).
· cites it 2× “Upon the sale of their homes, each petitioner paid the transfer tax under SRETTA, MCL 207.523, and then requested a refund from respondent under MCL 207.”
Cnty. of Oakland v. Fed. Hous. Fin. Agency, 716 F.3d 935 (2013).
“Mich. Comp. Laws § 207.523 states that a deed is exempt from Transfer Taxes if it is "A written instrument in which the grantor is the United States.”
— Mich. Comp. Laws § 207.523(1) — 2 cases
Lake Forest Partners 2, Inc v. Dep't of Treasury, 720 N.W.2d 770 (Mich. Ct. App. 2006).
“523 provides: (1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when the instrument is recorded: (a) Contracts for the sale or exchange of property or any interest in the property or any combination of…”
Gardner v. Dep't of Treasury, 306 Mich. App. 546 (Mich. Ct. App. 2014).
“Upon the sale of their homes, each petitioner paid the transfer tax under SRETTA, MCL 207.523, and then requested a refund from respondent under MCL 207.”
— Mich. Comp. Laws § 207.523(1)(a) — 1 case
Lake Forest Partners 2, Inc v. Dep't of Treasury, 720 N.W.2d 770 (Mich. Ct. App. 2006).
“523 provides: (1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when the instrument is recorded: (a) Contracts for the sale or exchange of property or any interest in the property or any combination of…”
— Mich. Comp. Laws § 207.523(l)(b) — 1 case
Eastbrook Homes, Inc. v. Dep't of Treasury, 820 N.W.2d 242 (Mich. Ct. App. 2012).
“When petitioner sells a speculative home and conveys *339 the property by deed to the buyer, it pays a transfer tax on the value of the land and the value of the home as required under SRETTA, MCL 207.523. A custom-built home is a home built for a specific, i.”
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