Transfer of Ownership

Definition
Michigan law defines a "transfer of ownership" as "the conveyance of title to or present interest in property, including the beneficial use of the property." Transfers of ownership include deeds, land contracts, distributions of estates, and a variety of other transactions.

Process

Whenever a property transfer occurs, the new owner must file an affidavit with the local assessor within 45 days of the transfer. The assessor must adjust or "uncap" the property’s taxable value in the year immediately following.

Exemptions

Some transfers of ownership are exempt from adjusting:
  • Transfers between husband and wife are exempt.
  • Transfers between other family members or from an estate, however, are not exempt.
You can find Property Transfer Affidavits at the Michigan Department of Treasury website.