This bill amends the existing law regarding the recording of instruments in the office of the register of deeds in Michigan. It establishes specific requirements for instruments executed after October 29, 1937, including the legibility of names, signatures, and addresses, as well as the formatting of the documents. Notably, it introduces new provisions that require instruments transferring single-family residential dwellings to state the total fair market value and either include the necessary documentary stamps or explain why they are not subject to the bulk-buyer transfer surtax. Additionally, it clarifies that certain formatting requirements do not apply to instruments executed outside the state or to specific regulated documents.

The bill also includes a provision that ensures registers of deeds cannot reject an instrument for recording based solely on its content, provided it meets the outlined requirements. Furthermore, it retroactively applies certain amendments related to mortgages and their recording, ensuring that they are duly recorded as of the date of the affidavit's recording. The bill defines terms such as "bulk-buyer transfer surtax" and "single-family residential dwelling" as per the SFR tax and economics act, and it stipulates that the amendments will only take effect if related legislation is enacted.

Statutes affected:
House Introduced Bill: 565.201