[BUYING AND SELLING REAL ESTATE IN THE UNITED STATES - MICHIGAN]
non- exempt of own ership.” A transfer includes (with a few exceptions) the sale of stock or membership/partnership interests (not a deed) in the entity having title to the property. 3. Only businesses pay personal “transfer property taxes, and they are structured the same way and subje ct to the same “cap” as real property. There are many exemptions and certain value thresholds that apply to personal property, depending on the value and/or the type of personal property involved.
ILN Real Estate Group – Buying and Selling Real Estate Series
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