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Real estate conveyance tax in state by state11/29/2023 Deeds or instruments of conveyance of real property or any interest therein, for a consideration.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.No fee is charged for filing the "Real Estate Transfer Valuation Affidavit," but the instrument should state that a real estate transfer valuation affidavit is being filed. In case of an exchange of two properties, the deeds transferring title to each are subject to tax, and in each case, shall be computed on the basis of the actual value of the property conveyed.Ĭonveyances affecting property situated in more than one county must state the portion of the sale 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.ĭocumentary stamps shall be purchased only in the county in which the property is located. The tax shall be upon the person who is the seller or the grantor. H 5456 and S 229 would require the State of Rhode Island to utilize the portion of the real estate conveyance tax for housing. State Transfer Tax Exemptions (MCL 207.526)Ĭounty Transfer Tax Exemptions (MCL 207.505) 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. Note: A separate RETR must be filed for each sale/conveyance. A sale of real estate by a county/municipality for delinquent taxes or assessment is exempt from transfer fee under state law (sec. 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 (see acts for details) or a Real Estate Transfer Valuation Affidavit. Is a real estate sale by a county/municipality for delinquent taxes or assessments exempt from a real estate transfer fee Yes.
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