Michigan HB5877 modifies the definition of prima facie evidence for transfers made for value, reflecting the repeal of the state real estate transfer.

Michigan HB5877 amends Section 3912 of the Michigan Compiled Laws to update the definition of prima facie evidence that a transfer is made for value. This change reflects the repeal of the state real estate transfer tax act. The bill ensures that a purchaser or lender acquiring property or a security interest from a distributee takes title free of rights of an interested person in the estate, provided the transfer was recorded under the repealed act.

Michigan HB5877 modifies the definition of prima facie evidence for transfers made for value, reflecting the repeal of the state real estate transfer.

Michigan HB5877 amends Section 3912 of the Michigan Compiled Laws to update the definition of prima facie evidence that a transfer is made for value. This change reflects the repeal of the state real estate transfer tax act. The bill ensures that a purchaser or lender acquiring property or a security interest from a distributee takes title free of rights of an interested person in the estate, provided the transfer was recorded under the repealed act.