Transfer tax is for the sale or other transfer or real estate. It is levied by the county and the state in Michigan. County transfer tax of $1.10 per $1,000. State transfer tax of $7.50 per $1,000. There are numerous exemptions from these taxes. For instance, sales where no monetary value is attributed to the transaction or where the transaction is between current co-owners of the property.
With a background in commercial real estate sales, we had plenty of experience working with other title companies before launching Token Title. While many of them were very good at what they did, they were all structured around an outdated method of operating. We decided to build Token Title from the ground up, designed specifically for the digital future. Token Title is part of a group of PropTech companies focused on building tomorrow.