Michigan Laws 207.502 – Instruments executed within state subject to tax
Current as of: 2023 | Check for updates
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(1) There is imposed, in addition to all other taxes, a tax upon the following written instruments executed within this state when said instrument is recorded.
(a) Contracts for the sale or exchange of real estate or any interest therein or any combination of the foregoing or any assignment or transfer thereof.
Terms Used In Michigan Laws 207.502
- Person: means every natural person, association or corporation. See Michigan Laws 207.501
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) Deeds or instruments of conveyance of real property or any interest therein, for a consideration.
(2) The tax shall be upon the person who is the seller or grantor.