Get Mi Dot 2705 (formerly L-4258) 1995
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How to fill out the MI DoT 2705 (Formerly L-4258) online
Filling out the MI DoT 2705 (Formerly L-4258) is essential for those involved in real estate transactions in Michigan. This form, known as the real estate transfer tax valuation affidavit, is required when the purchase amount is not stated on the deed.
Follow the steps to complete the MI DoT 2705 (Formerly L-4258) efficiently.
- Press the ‘Get Form’ button to access the MI DoT 2705 form and open it in your preferred document editor.
- In the first field, enter the county where the property is located.
- Next, fill in the city or township of the property.
- Provide the seller's full name and their mailing address in the designated fields.
- In the following section, input the purchaser's name and mailing address.
- Indicate the type of document being used and the date of the transaction.
- Enter the total cash payment involved in the transaction.
- Provide the amount of county tax applicable to this transaction.
- If applicable, indicate the amount of mortgage or land contract associated with the property.
- Detail the amount of state tax to be calculated for this transaction.
- If the consideration is less than the market value, state the market value in the appropriate field.
- Calculate and input the total consideration by adding the cash payment and the mortgage amount.
- Record the total revenue stamps as required.
- Include a legal description of the real estate being transferred.
- Ensure the seller signs the form, certifying that the information provided is accurate.
- If someone other than the seller is signing, ensure to print their name and title.
- Complete the notarization section, including the notary public's information and their commission expiration!
- Review all entered information for accuracy before finalizing.
- Once all information is complete, save your changes, then download, print, or share the form as necessary.
Complete your MI DoT 2705 form online today for a smooth real estate transaction!
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The best way to transfer property title between family members in Michigan is by using a quitclaim deed, which simplifies the transfer process. It is also important to complete the MI DoT 2705 (Formerly L-4258) form to handle any tax implications. This method allows family members to transfer titles without complications. Platforms like US Legal Forms offer invaluable resources to help you navigate these transactions smoothly.