Fill and Sign the Michigan Survivorship Form

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF MICHIGAN WARRANTY DEED [TWO TRUSTEES TO HUSBAND AND WIFE AS JOINT TENANTS WITH THE RIGHT OF SURVIVORSHIP] Control Number – MI - SDEED – 8-16 - Page 1 - NOTE ABOUT COMPLETING THE FORMS The forms in this packet contain “form fields” created using Microsoft Word. “Form fields” facilitate completion of the forms using your computer. They do not limit you ability to print the form “in blank” and complete with a typewriter or by hand. If you do not see the gray shaded form fields, go the View menu, click on Toolbars, and then select Forms. This will open the forms toolbar. Look for the button on the forms toolbar that resembles a shaded letter “a”. Click in this button and the form fields will be visible. The forms are locked which means that the content of the forms cannot be changed. You can only fill in the information in the fields. 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If problems, please let us know. - Page 2 - NOTE ON FILING FORM If your deed does not state the amount of consideration paid for the property, you must file with the deed a Michigan Real Estate Transfer Valuation Affidavit. This form may be accessed at the following website address: http://www.michigan.gov/documents/l4260f_2688_7.pdf You may also check to see if you are exempt from filing the Real Estate Transfer Valuation Affidavit Form by reading the listings present in MCL 207.526 Section 6: “The following written instruments and transfers of property are exempt from tax imposed by this act: a. A written instrument in which the value of the consideration for the property is less than $100.00. b. 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. c. A written instrument that this state is prohibited from taxing under the United States constitution or federal statutes. d. A written instrument given as security or an assignment or discharge of the security interest. e. A written instrument evidencing a lease, including an oil and gas lease, or transfer of a leasehold interest. f. A written instrument evidencing an interest that is assessable as a personal property. g. A written instrument evidencing the transfer of a right and interest for underground storage purposes. h. Any of the following written instruments: i. A written instrument in which the grantor 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 a political subdivision or municipality of this state, acting in his or her official capacity. ii. A written instrument given in foreclosure or in lieu of foreclosure of a loan made, guaranteed, or insured by 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 a political subdivision or municipality of this state, acting in his or her official capacity. - Page 3 - iii. A written instrument given to the United States, this state, or 1 of their officers acting in an official capacity as a grantee, pursuant to the terms or guarantee or insurance of a loan guaranteed or insured by the grantee. i. A conveyance from a husband or wife or husband or wife or husband and wife creating or disjoining a tenancy by the entireties in the grantors or the grantor and his or her spouse. j. A conveyance from an individual to that individual's child, stepchild or adopted child. k. A conveyance from an individual to that individual's grandchild, stepgrandchild or adopted grandchild. l. A judgement 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. m. A written instrument used to straighten boundary lines if no monetary consideration is given. n. A written instrument to confirm title already vested in a grantee, including a quitclaim deed to correct a flaw in title. o. 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. p. A written instrument evidencing the transfer of mineral rights and interests. q. A written instrument creating a joint tenancy between 2 or more persons if at least 1 of the persons already owns the property. r. A transfer made pursuant to a bona fide sales agreement made before the date the tax is imposed under sections 3 and 4, if the sales agreement cannot be withdrawn or altered, or contains a fixed price not subject to change or modification. However, a sales agreement for residential construction may be adjusted up to 15% to reflect changes in construction specifications. s. 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, 26U.S.C.414. t. A written instrument conveying an interest in homestead property for which a homestead exemption is claimed under either the school code of 1976, Act No. 451 of the Public Acts of 1976, being sections 380.1 to 380.1852 of the Michigan Compiled Laws or the state education tax act, Act No. 331 of the Public Acts of 1993, being sections 211.901 to 211.906 of the Michigan Compiled Laws, if the state equalized valuation of that homestead 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 the same interest in - Page 4 - property. If after an exemption is claimed under this subsection, the sale or transfer of homestead property is found by the treasurer to be at a value other than the true cash value, then a penalty equal to 20% of the tax shall be assessed in addition to the tax due under this act to the seller or transferor. u. A written instrument transferring an interest in property pursuant to a foreclosure of a mortgage including a written instrument given in lieu of of foreclosure of a mortgage. This exemption does not apply to subsequent transfer of the foreclosed property by the entity that foreclosed on the mortgage. v. 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. History: 1993, Act 33, Eff. Apr. 1, 1994;--Am. 1994, Act 3, Eff. Mar. 30, 1994;--Am. 1994, Act 255, Immd. Eff. July 5, 1994 - Am. 2000, Act 203, Imd. Eff. June 27, 2000.” Exemptions from the County Transfer Tax are listed in MCL 207.505 Section 5: “MCL 207.505 Section 5 The following instruments and transfers shall be exempt from this act: a. Instruments where the value of the consideration is less than $100.00. b. Instruments evidencing contracts or transfers which are not to be performed wholly within this state insofar as such instruments include land lying outside of this state. c. Written instruments which this state is prohibited from taxing under the constitution or statutes of the United States. d. Instruments or writings given as security or any assignment or discharge thereof. e. Instruments evidencing leases, including oil and gas leases, or transfers of such leasehold interests. f. Instruments evidencing any interests which are not assessable as personal property. g. Instruments evidencing the transfer of rights and interests for underground gas storage purposes. h. Instruments i. in which the grantor is the United States, the state, any political subdivision or municipality thereof, or officer thereof acting in his official capacity; - Page 5 - ii. given in foreclosure or in lieu of foreclosure of a loan made, guaranteed or insured by the United States, the state, any political subdivision or municipality thereof or officer thereof acting in his official capacity; iii. given to the United States, the state, or 1 of their officers as grantee, pursuant to the terms or guarantee or insurance of a loan guaranteed or insured by the grantee. i. Conveyances from a husband or wife or husband and wife creating or disjoining a tenancy by the entireties in the grantors or the grantor and his or her spouse. j. Judgements or orders of courts of record making or ordering transfers, except where a specific monetary consideration is specified or ordered by the court therefor. k. Instruments used to straighten boundary lines where no monetary consideration is given. l. Instruments to confirm titles already vested in grantees, such as quitclaim deeds to correct flaws in titles. m. Land contracts whereby the legal title does not pass to the grantee until the total consideration specified in the contract has been paid. n. Instruments evidencing the transfer of mineral rights and interests. o. Instruments creating a joint tenancy between 2 or more persons where at least 1 of the persons already owned the property. “ - Page 6 - DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Michigan. All Information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem we suggest that you consult an attorney. 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HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. - Page 7 - WARRANTY DEED (Individual to Individual) KNOW ALL MEN BY THESE PRESENTS THAT: The undersigned, ______________________________ and ______________________________ , as Trustees under the provisions of a Trust Agreement dated the ______ day of __________________ , ______ , and known as Trust Number ____________ and establishing the Trust known as the ________________________ Trust , hereinafter referred to as “Grantor”, whether one or more, whose address is ____________________________________ , does hereby convey and warrant unto ______________________________ and ______________________________ , Husband and Wife, as Joint Tenants with the Right of Survivorship and not as Tenants in Common, whose address is ____________________________________ , hereinafter “Grantee”, whether one or more, the following lands and property, together with all improvements located thereon, lying in the City/County/Township of ______________________ , State of Michigan, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       for the sum of: ____________________________________ ($ ______ ) Dollars or Exempt Under M.C.L.A. 207.505 ( ______ ) and M.C.L.A. 207.526 ( ______ ). Prior instrument reference: Book ______ , Page ______ , Document No. ______ , of the Recorder of ______________________ County, Michigan. SUBJECT to easements and building and use restrictions of record if any, and any taxes which constitute a lien but are not yet due and payable. TO HAVE AND TO HOLD same unto Grantees, and unto Grantee’s heirs and assigns forever, with all appurtenances thereunto belonging. Warranty Deed Page 1 of 3 Taxes for tax year ______ shall be prorated between Grantor and Grantee as of the date selected by Grantor and Grantee, or paid by Grantee, or paid by Grantor. TO HAVE AND TO HOLD to the said Grantees as joint tenants, with right of survivorship, their heirs, personal representatives, executors and assigns forever: it being the intention of the parties to this conveyance, that (unless the joint tenancy hereby created is severed or terminated during the joint lives of the grantees herein) in the event one Grantee herein survives the other, the entire interest in fee simple shall pass to the surviving Grantee, and if one does not survive the other, then the heirs and assigns of the Grantees herein shall take as tenants in common. THE GRANTOR(S) also grant(s) to the Grantee(s) the right to make ______________________ division(s) under § 108 of the Land Division Act, Act No. 288 of Public Acts of 1967. THE ABOVE-DESCRIBED PREMISES may be located within the vicinity of farmland or a farm operation. Generally accepted agricultural and management practices which may generate noise, dust, odors, and other associated conditions may be used and are protected by the Michigan Right to Farm Act. Warranty Deed Page 2 of 3 IN WITNESS WHEREOF , the Grantor, acting in his capacity as Trustee of the __________________ Trust, this the ______ day of __________________ , 20 ______ .       Name of Trust By Signature       Type or Print Name IN WITNESS WHEREOF , the Grantor, acting in his capacity as Trustee of the __________________ Trust, this the ______ day of __________________ , 20 ______ .       Name of Trust By Signature       Type or Print Name STATE OF _______________________ COUNTY OF ___________________ The foregoing instrument was acknowledged before me this ____________________________ (date) by ___________________________________ (name of person acknowledged). ______________________________ Notary Public Printed Name: ____________________ My Commission Expires: ____________________ Warranty Deed Page 3 of 3 STATE OF _______________________ COUNTY OF ___________________ The foregoing instrument was acknowledged before me this ____________________________ (date) by ___________________________________ (name of person acknowledged). ______________________________ Notary Public Printed Name: ____________________ My Commission Expires: ____________________ Drafted by and return to:                                     Send subsequent tax bills to:                                     Warranty Deed Page 3 of 3 EXHIBIT A       Warranty Deed Exhibit A