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Home Michigan Information
Michigan Information PDF Print E-mail
VESTING  
  • The following tenancy types are recognized: Tenancy by the Entirety, Joint Tenancy          
  • The non-titled spouse of homestead property must sign the security instrument           
  • If property is not homestead, an affidavit relinquishing Dower rights against property is needed          
  • Upon death of spouse the decedents interest reverts to the surviving spouse unless otherwise stated(example: community property, etc.) with proof. Recordation of death certificate is required for proof.          
  • Acceptable instruments for transferring ownership on real property: Warranty Deed, Quitclaim Deed, or Covenant deed. Any deed must include full consideration unless the required affidavit is submitted along with the document          
             
RELEASE 
  • Acceptable instruments to release mortgages: Discharge of mortgage          
             
POWER OF ATTORNEY
  • Power of Attorney should not be more than 1 year old, and should be strictly interpreted, and only acts specifically authorized in power can be recognized. The agent cannot use power of attorney to acquire or use the principal's property. If the agent executes a document to be recorded, then a power of attorney must also be recorded.          
             
TAX DUE DATES
  • State, County, Village or Township property taxes are due and payable on December 1st          
  • Property taxes can be paid semi-annually due on December 1st and July 1st;July taxes paid to the City and December taxes paid to the County    
  • Local taxing authorities may provide for levies and collection of summer taxes          
  • Terms and conditions of collection are established by school code or the local taxing unit and govern the summer property tax levy          
             
MORTGAGE/TRANSFER TAX
  • Mortgage tax is NOT charged          
  • Transfer tax fees are $8.60 per $1000 statewide and include state recording tax.          
             
SECURITY INSTRUMENT RECORDING REQUIREMENTS
  • All original signatures must have names typed or printed under signature line          
  • Notary statement with notary's name printed or typed beneath the signature           
  • Tax index, property address, and name of municipality or township property is located, must appear on all instruments          
  • The name and business address of the person preparing the instrument is required          
  • The address of each party is required on all documents submitted for recording          
  • The address must be printed or typed on the face of the instrument          
             
WHO MAY SERVE AS TRUSTEE ON DEED OF TRUST
  • Not required          
             
STATUTE OF LIMITATIONS
  • JUDGMENTS IN FAVOR OF U.S.- 20 years          
  • ALL OTHER JUDGMENTS - 5 years after date of recorduing, unless re-recorded          
  • STATE OF MASSACHUSETTS TAX LIENS - MESC Liens Forever          
  • FEDERAL TAX LIENS 10 years          
  • MECHANICS LIEN - Foreclosure proceeding must be filed within 1 year of its recording          
  • ESTATE TAX  10 years          
  • HOMEOWNER'S ASSOCIATION - No time period in statute          
  • MORTGAGES - If not otherwise released, either 30 years from the stated maturity date, or 30 years from the date of recording if no maturity date specified          
  • NOTICE OF COMMENCEMENT - No time limit-need to determine date that all work completed          
  • PERSONAL PROPERTY TAX LIEN          
  • WORKERS COMPENSATION TAX LIENS          
  • PRIVATE          
  • LIS PENDENS - 3 years from recording, uless litigation pending          
  • STATE INHERITANCES TAX          
  • FINANCING STATEMENTS - 5 years unless renewed, or if recorded as additional security with a mortgage until mortgage is released
 

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