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  State Real Estate Transfer Tax
If a husband and wife convey property to the wife's mother for life and the remainder to the wife and the wife's sister, how is the transaction taxed?

The conveyance of the life estate is taxable unless the consideration is lessthan $100. The conveyance of the remainder disjoins a tenancy by the entireties and creates a joint tenancy exempt under MCL 207.526 (i) and/or (r).

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