Sign In
All Alcona County specific forms and documents listed below are included in your immediate download package:
The Following Michigan and Alcona County supplemental forms are included as a courtesy with your order.
Property Transfer Affidavit - Form 2766 (Michigan Document)
Real Estate Transfer Tax Valuation Affidavit - Form 2705 (Michigan Document)
Transfer Tax Rates & Table (Michigan Document)
County and State Transfer Tax Exemptions (Michigan Document)
Certificate of Trust Form (Michigan Document)
Guidelines for the Michigan Principle Residence Exemption Program (Michigan Document)
Principle Residence Exemption Affidavit (PRE) (Michigan Document)
Conditional Recission of Principle Residence Exemption (PRE) (Michigan Document)
Principal Residence Exemption Affidavit for Similar Exemptions in Other States (Michigan Document)
Batch Cover Sheet (Michigan Document)
Certificate of Acknowledgment - Individual (Michigan Document)
Certificate of Acknowledgment - Representative (Michigan Document)
Jurat (Michigan Document)
Including:
Gifts of Real Property (Real Estate) in Michigan
A gift deed, or deed of gift, is a legal document voluntarily transferring title to real property from one party (the grantor or donor) to another (the grantee or donee). A gift deed typically transfers real property between family or close friends. Gift deeds are also used to donate to a non-profit organization or charity. The deed serves as proof that the transfer is indeed a gift and without consideration (any conditions or form of compensation).
Valid deeds must meet the following requirements: The grantor must intend to make a present gift of the property, the grantor must deliver the property to the grantee, and the grantee must accept the gift. Gift deeds must contain language that explicitly states no consideration is expected or required, because any ambiguity or reference to consideration can make the deed contestable in court. A promise to transfer ownership in the future is not a gift, and any deed that does not immediately transfer the interest in the property, or meet any of the aforementioned requirements, can be revoked [1].
A lawful gift deed must also include the grantor's full name and marital status, as well as the grantee's full name, marital status, mailing address, and vesting. Vesting describes how the grantee holds title to the property. For Michigan residential property, the primary methods for holding title are tenancy in common, joint tenancy, and tenancy by entirety. A grant of ownership of real estate to two or more unmarried persons is presumed to create a tenancy in common, unless otherwise stated in the conveyance. Transfers to a married couple create a tenancy by entirety. (MCL 554.43--45). Gift property acquired by one spouse vests as sole ownership (MCL 557.21).
As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Include all relevant documents, affidavits, forms, and fees with the along with the deed for recording as well. File a Property Transfer Affidavit whenever real estate is transferred to ensure correct assessment for tax purposes. The new owner must file in the city or township where the property is located within 45 days of transfer (MCL 207.504, 207.525). Record the completed deed at the local County Recorder's office.
The IRS levies a Federal Gift Tax on any transfer of property from one individual to another with no consideration, or consideration that is less than the full market value. Gifts of real property in Michigan are subject to this federal gift tax. In accordance with federal law, individuals are permitted an annual exclusion of $15,000 on gifts. This means that gifts valued below $15,000 do not require a federal gift tax return (Form 709). Even so, grantors should consider filing one for many gifts of real property [2]. The grantor is responsible for paying the federal gift tax; however, if the grantor does not pay the gift tax, the grantee will be held liable [1].
In Michigan, there is no state gift tax. For questions regarding tax laws, consult a tax specialist.
With gifts of real property, the recipient of the gift (grantee) is not required to declare the amount of the gift as income, but if the property accrues income after the transaction, the recipient is responsible for paying the requisite state and federal income taxes [3].
This article is provided for informational purposes only and is not a substitute for the advice of an attorney. Contact a lawyer with any questions about gift deeds or other issues related to the transfer of real property. For questions regarding federal and state taxation laws, consult a tax specialist.
[1]https://nationalparalegal.edu/public_documents/courseware_asp_files/realProperty/PersonalProperty/InterVivosGifts.asp
[2] http://msuextension.org/publications/FamilyFinancialManagement/MT199105HR.pdf
[3] https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes
The documents you receive here will meet, or exceed, the Alcona County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
Get your Alcona County Gift Deed form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.
4.8 out of 5 (4069 Reviews) June 8th, 2023
Name: Tim T.
Review: Very easy to find forms and good examples for filling out forms!
Reply from Staff on June 8th, 2023
Thank you for your feedback. We really appreciate it. Have a great day!
June 8th, 2023
Name: Lori B.
Review: Great service. Very easy to follow instructions and examples. I would use again.
Reply from Staff on June 8th, 2023
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
June 6th, 2023
Name: Susan J.
Review: I was pleased that I could send the documents this way rather than having to mail it or take time out of my day to go down to the records office.
Reply from Staff on June 6th, 2023
Thank you for taking the time to leave your feedback Susan, we really appreciate you. Have an amazing day.
Name: Arletta B.
Review: Fantastic service, saved me a ton of time and running around. Thanks!
Reply from Staff
Thank you!
Name: Edward M.
Review: Thank you for your excellence form services. I can download all the forms easily. If you have the guide on how to fill out all of those forms, that more helpful for me. I don't know how the use E-Recording? Can you tell me how? If my friends ask me about the legal forms services, I will tell them to use your Website. If I wrote some words wrong, please correct them before display publicly.
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
Name: William C.
Review: Excellent, easy to use. Technically accurate in all information offered.
Reply from Staff
Thank you!
Name: Tami C.
Review: Excellent service, easy to follow instructions.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Brett T.
Review: Where have you been my whole life. I will join if I can afford it. Do you have a form for a Private Family Trust Company ....Irrevocable Trust ...Revocable Trust.....send me an email so I will have contact info.
Reply from Staff
Thank you!
Name: JOHN P.
Review: I thought your service would comply with my request quicker.
Reply from Staff
Looks like it took 4 minutes to complete your order, sorry it took so long.
Name: Sara R.
Review: Worked well for me to create a deed for a house I inherited. It was very thorough and easy to use. I have no experience with the law so I just googled terms I didn't understand and was fine. I also called land records a lot and ended up not needing a lot of the material included, but it was still good to have it.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: chris m.
Review: Was warned by attorney that forms from internet have lots of mistakes. But after looking all over, took a chance on here. So far, I am satisfied, and actually happy that I got something that (I believe) meets my state and local requirements. Haven't filed the deed yet, or had to put it into effect, but being able to pick the local area, and have the relevant state law listed on the deed, gives me confidence. Also, got the whole package of possibly relevant forms, and a very good guide how to prep the deed with a sample completed deed - greatly appreciated!
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Judy K.
Review: Your customer service is superb. I ordered the wrong form, and you were so quick to resolve my problem. I will be using your site again.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Earline S.
Review: Total package. Very prompt with complete instructions & example to complete forms. If you don't want to hire a lawyer, this is pretty simple & will bypass probate.
Reply from Staff
Thank you, we really appreciate your feedback.
Name: Kathleen S.
Review: The process was easy and the Staff was very helpful. Document was recorded quickly.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Kerrin S.
Review: Wow, this was so easy & helpful. I didn't get it finished in time for recording, so I'm still waiting on that part, but the rest was simple and straight-forward. Thanks!
Reply from Staff
Thank you!
Use of Deeds.com Legal Forms. On our Site we make available for use self-help "fill in the blank" forms. If you use a form on our Site, you explicitly agree to our Terms of Use. You understand and agree that your purchase and/or use of a form document is neither legal advice nor the practice of law, and that each form and any applicable instructions or guidance is not customized to your particular needs, not guaranteed or warranted to be current, up to date, or accurate.
NO WARRANTY. Do It Yourself Legal Forms available on our Website are not guaranteed to be usable, correct, up to date, or fit for any legal purpose. Use of any Do It Yourself Legal Form from our website is done so AT YOUR OWN RISK.
If you use any Do It Yourself Legal Form available on Deeds.com, you agree that: TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE BE LIABLE FOR DAMAGES OF ANY KIND (INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR ANY SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES) ARISING OUT OF OR IN CONNECTION WITH THE LEGAL FORMS OR FOR ANY INFORMATION OR SERVICES PROVIDED TO YOU THROUGH THE DEEDS.COM WEBSITE. TO THE EXTENT THE FOREGOING LIMITATION OF LIABILITY IS PROHIBITED, OUR SOLE OBLIGATION TO YOU FOR DAMAGES WILL BE LIMITED TO $100.00.
Nothing on this website should be considered a substitute for the advice of an attorney.
© DEEDS.COM INC. 1997 - 2023 ALL RIGHTS RESERVED | (330) 606-0119 | P.O. Box 5264, Fairlawn, OH 44334