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Your email address will not be published. Our recording fees may differ from other counties. If the decedent had owed the creditor $1,500, the brother wouldnt have to pay more than $1,000 to the creditor. 1993, Act 313, Eff. Oct. 10, 2014 One difference between the two acts is that EPIC gives greater flexibility to the registering entity regarding discharge from claims to a security with a beneficiary designation. It is used by the assessor to ensure the property is assessed properly and receives the . If an inheriting sibling died before the decedent, that persons children will split their share of the property equally. Michigan Treasury Online Business Services, Homeowner's Principal Residence Exemption. In Michigan, a person must live more than 120 hours after a decedent dies for the survivorship rights to take effect. County Transfer Tax Rate - $0.55 for every $500 of value transferred. The fee to record a real estate document is $15.00 for the first page and $3.00 for each additional page or side. Also, if you wish, you may ask a notary to verify the form and sign it; however, you are not obliged to do so by law when preparing such an affidavit in the state of Michigan. Property Transfer Affidavit (PTA) Rev 05-16. Their share will be divided between the remaining heirs. Then, define the propertys location (whether it is a city, village, or township) by marking the relevant box and insert the locations name below. Admittedly, all situations an attorney encounters will not be addressed in this article, but many of the usual situations will be discussed. If the decedent had owed the creditor $1,500, the brother wouldnt have to pay more than $1,000 to the creditor. . Then show the affidavit and a copy of the death certificate to whoever holds the property. Michigan Real Estate Transfer Tax - Register of Deeds - Kalamazoo EPIC 398724 is similar to MCLA 700.325. Creditors of one spouse cannot put a lien on the property. This is called limited scope representation. Often, the value of the assets of the decedent that must be transferred is so small that the assets can be transferred without probate administration. PDF Probate Administration of a Decedent's Estate Where the safe deposit box is opened only to determine if a will or a deed to a burial plot is in the box, both MCLA 700.609 and EPIC 2517 provide that any will or deed to a burial plot, as well as a written statement that no other items were removed from the safe deposit box, must be delivered to the probate register or a deputy probate register. ;-- The property ID number. Eff. You must list all real property and personal property with the value of each. The procedure for opening a safe deposit box under MCLA 700.609 now appears as EPIC 2517,1 which quotes the Revised Probate Code almost verbatim. Under MCLA 451.478(4), the registering entity is discharged from claims to a security with a beneficiary designation only if it relies on the registration and an affidavit of the personal representative of the deceased owner. The Use of Lady Bird Deeds to Convey Life Estate Interests in Land You may want to talk to a lawyer. Norbert T. Madison, Jr.is a highly regarded corporate and real estate attorney with more than three decades of experience.