The Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit is a legal document that is required during the process of transferring property ownership within the city of Detroit, Michigan. This affidavit is used to evaluate the transfer tax that needs to be paid by the buyer or seller of the property. The purpose of the Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit is to provide accurate information regarding the sale or transfer of the property, which helps determine the appropriate amount of transfer tax. It requires detailed information about the property being transferred, such as the address, legal description, and parcel identification number (PIN). The affidavit also includes information regarding the parties involved in the transfer, including the buyer, seller, and any other individuals or entities that may have an interest in the property. It will typically require the names, addresses, and contact details of all involved parties. In addition, the Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit may require information about the purchase price or value of the property, as this can impact the transfer tax calculation. It may also require details about any exemptions or exceptions that apply to the transfer. Different types or variations of the Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit may exist depending on the specific circumstances of the transfer. For example, there might be separate forms for residential properties, commercial properties, or vacant land. These variations ensure that the information provided is appropriate for the type of property being transferred. It is important for both buyers and sellers to accurately complete the Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit as any false or misleading information can lead to penalties or legal consequences. The completed affidavit is typically submitted to the appropriate local government office or agency responsible for collecting transfer taxes. Overall, the Detroit Michigan Real Estate Transfer Tax Evaluation Affidavit is a vital document in the property transfer process, ensuring that the correct amount of transfer tax is assessed and paid in accordance with local regulations and laws.