Sec. 1. As used in this act: (a) "Treasurer" means the county treasurer. (b) "Person" means every natural person, association or corporation. Whenever used in any penalty clause the term "person", as applied to associations, means the partners or members thereof, and as applied to corporations, the officers thereof. (c) "Value" means the current or fair market worth in terms of legal monetary exchange at the time of the transfer.
Mich. Comp. Laws § 207.501
Real estate transfer tax; definitions
Applied in 3 court decisions — leading case County of Oakland v. Federal Housing Finance Agency (2013)
Most recently applied in County of Oakland v. Federal Housing Finance Agency (May 2013)
1966, Act 134, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.