Find Laws Find Lawyers Free Legal Forms USA State Laws

MICHIGAN STATUTES AND CODES

Section 205.207 - Election to make deferred payments; bond.

MICHIGAN ESTATE TAX ACT (EXCERPT)
Act 188 of 1899

205.207 Election to make deferred payments; bond.

Sec. 7.

Any person or corporation beneficially interested in the reversion or remainder of any property chargeable with a tax under this act, and executors, administrators and trustees thereof, may elect within 1 year from the transfer thereof as herein provided, not to pay such tax until the person or persons beneficially interested therein shall come into the actual possession or enjoyment thereof. If it be personal property, the person or persons so electing shall give a bond to the state in the penalty of 3 times the amount of such tax, with such sureties as the judge of probate of the proper county may approve, conditioned for the payment of such tax and interest thereon at such time and period as the person or persons beneficially interested therein may come into the actual possession or enjoyment of such property, which bond shall be executed and filed and a full return of such property upon oath made to the probate court within 1 year from the date of the transfer thereof, as herein provided, and such bond must be renewed every 5 years: Provided, That the time fixed herein for making such election may be extended by the court in its discretion for a period not to exceed 2 years.


History: 1899, Act 188, Eff. Sept. 23, 1899 ;-- Am. 1903, Act 195, Imd. Eff. June 9, 1903 ;-- CL 1915, 14530 ;-- CL 1929, 3679 ;-- CL 1948, 205.207
Compiler's Notes: For applicability of section, see MCL 205.223(a).
Popular Name: Inheritance Tax

Michigan Forms by Issue

Michigan Abortion Forms
Michigan Adoption Forms
Michigan Appeals Forms
Michigan Business Forms
Michigan Child Support Agency Forms
Michigan Children/Juvenile Forms
Michigan Court Forms
> Criminal
> DUI
> Probate
> Traffic
> Case Evaluation
> Civil (County)
> Civil (District)
> Claims
> Dispute
> Forfeiture
> Garnishment
> Personal Protection
> Probation
> Small Claims
> Substance Abuse
Michigan Emancipation Forms
Michigan Family Forms
Michigan Foreclosure Forms
Michigan Guardianship Forms
Michigan Gun Forms
Michigan Landlord/Tenant Forms
Michigan Marriage Forms
Michigan Name Change Forms
Michigan Other Forms
Michigan Tax Forms

Michigan Law

Michigan State Laws
    > Michigan Child Support
    > Michigan Gun Laws
    > Michigan Statutes
Michigan Court
    > Michigan Court of Appeals
Michigan Tax
    > Michigan State Tax
Michigan Labor Laws
    > Unemployment Michigan
Michigan State
    > Michigan Counties
    > Michigan Zip Codes
Michigan Agencies
    > Department of Human Services Michigan
    > Michigan Department of Corrections
    > Michigan Department of Education
    > Michigan State Police
    > Secretary of State Michigan

Michigan Court Map

Tips