Resources
At Title Pros, we aim to provide you with the necessary tools to make your real estate transactions as seamless as possible. Below, you'll find essential forms, affidavits, and resources to help navigate the various requirements when transferring property or claiming exemptions.
Property Transfer Affidavit
The Property Transfer Affidavit is required under P.A. 415 of 1994 whenever real estate or certain types of personal property are transferred, even if a deed is not being recorded. This form must be submitted to the city or township assessor’s office where the property is located within 45 days of the transfer. Filing is mandatory, and the information is not confidential.
-
Filing Deadline: Within 45 days of the property transfer
-
Penalty: Failure to file may result in penalties
-
Not Confidential: The information on this form is publicly accessible
Principal Residence Exemption (PRE) Affidavit
The Principal Residence Exemption (PRE) Affidavit allows homeowners to exempt their principal residence from certain local school operating taxes. This affidavit is governed by Public Act 206 of 1893 and must be filed with the assessor of the city or township where the property is located. It is important to ensure that the property is your primary residence and that none of the disqualifying factors listed in MCL 211.7(cc) apply.
-
Who Should File: Homeowners claiming an exemption for their primary residence.
-
When to File: Submit the form when you purchase a home that becomes your principal residence or if you change your principal residence.
-
Where to File: The completed form must be submitted to the assessor in the city or township where the property is located.
-
Important Note: Do not submit the form if the property is not your primary residence or if any of the disqualifying factors apply.
Additional Information:
For further guidance, review the PRE Guidelines provided by the state of Michigan at www.michigan.gov/pre.