July 23, 2020

Working Remotely Drives Industry Changes

Answer: A Real Estate Transfer Tax Valuation Affidavit (RETTVA) is a form that can be used as a layer of privacy in a real estate transaction. Under Michigan law, as a precondition to recording the deed, the buying and selling parties are required as a precondition to recording to disclose the amount paid for real estate on the face of the deed. A REETVA allows the parties to forego that requirement.

A REETVA includes a description of the property, the purchase price, and the amount of state and county transfer taxes due. Once completed, the form is filed with the Register of Deeds, along with the deed. While filing a REETVA prevents the purchase price from being disclosed on the deed, it doesn’t provide complete privacy, because the selling price must be disclosed to the assessor’s office and maintained as a public record.

Read the complete Q&A in dBusiness on page 64-65.

About the author:

Anna ValkAnna Valk helps clients protect and maximize the value of their real estate assets. Her practice focuses on all aspects of selling, purchasing, leasing, and financing of real estate projects.




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Anna Valk

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Real Estate