Michigan Compiled Laws
451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120)
Section 324.51115 - Transfer of Title; Effect; Withdrawal; Document; Notification.

Sec. 51115.
(1) The transfer of title of forestland classified as commercial forest under this part does not affect that forestland's classification as a commercial forest if the forestland continues to meet all of the eligibility requirements under this part. If the purchaser desires to withdraw his or her forestland from the classification as commercial forest under this part, the purchaser shall withdraw that forestland pursuant to section 51108. If the forestland's eligibility to be classified as commercial forest is affected by the transfer of title, the department shall determine which forestlands may remain classified as commercial forest under this part and which forestlands must be withdrawn or declassified.
(2) A document that transfers any interest in commercial forestlands shall state on the face of the document that "this property is subject to part 511, the commercial forest part of the natural resources and environmental protection act". Failure to comply with this subsection does not affect the classification of the land as commercial forestland.
(3) Not later than 30 days after the county equalization office receives notice of a transfer of title or the transfer of any interest in a land contract concerning the commercial forestland, the county equalization office shall notify the department in writing of the transfer or ownership change.
History: Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2013, Act 48, Imd. Eff. June 6, 2013 Popular Name: Act 451Popular Name: NREPA

Structure Michigan Compiled Laws