Sign In
All Montcalm County specific forms and documents listed below are included in your immediate download package:
The Following Michigan and Montcalm 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 Montcalm 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 Montcalm 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: GARY S.
Review: I thought your forms are great. Easy to use with instructions provided.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Karen V.
Review: It was a easy process to get the forms I needed.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: RONNIE C.
Review: Excellent service and the time the documents send back to me was also excellent
Reply from Staff
Thank you!
Name: Tai H.
Review: Great service. Save me a time and effort in filling out LA County Quitclaim Deed.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: OLGA R.
Review: Excellent Service for E-Recording. They work with you and guide you on every aspect.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Morgan K.
Review: When I brought this deed to the county assessor, they were so impressed that I had done it correctly on my first try, and said they wished everyone would do such a good job on their paperwork.
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
Name: Armando B.
Review: This was so simple to get around your web site. Guide was easy to follow. Great experience. Would use again.
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
Name: Thi W.
Review: Absolutely the easiest and fastest service ever!!! staff very helpful.
Reply from Staff
Thank you!
Name: Evelynne H.
Review: The service was quick and easy to use. Which is something I really appreciate.
Reply from Staff
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Name: Bea Lou H.
Review: easy access and easy to find what I was looking for. Thank you
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
Name: Barbara Y.
Review: I found your instructions and sample for completing a quit-claim deed in Arizona to be simple and easy to follow with one exception. The website to use in order to determine the code for the reason for exemption of fees was incorrect, as a result of which I had to contact the County Recorder to obtain that information.
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
Name: Lahoma G.
Review: Got it very fast !! Thanks
Reply from Staff
Thank you for your feedback. We really appreciate it. Have a great day!
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