Michigan Laws 205.237 – Liability
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 205.237
- Person: means an individual, firm, partnership, joint venture, association, corporation, limited liability company, company, estate, or any other group or combination acting as a unit. See Michigan Laws 205.256
- Transfer: includes the passing of property or an interest in property in possession or enjoyment, present or future, by inheritance, descent, devise, bequest, grant, deed, bargain, sale, or gift in the manner prescribed in this act. See Michigan Laws 205.221
- Transfer tax: includes an estate, generation-skipping, inheritance, legacy, or succession tax for residents and nonresidents, including aliens. See Michigan Laws 205.256
The person liable for payment of the federal transfer tax is personally liable for the tax, penalties, and interest imposed by this act to the same extent as the federal transfer tax.