Section R. 206.212 - Sale or transfer of resourceRule 212.
(1) If, during the compliance period, a qualified taxpayer wishes to either sell or transfer the qualified taxpayer's interest in the historic resource, the qualified taxpayer shall notify the office and the department of treasury in writing of their intent at least 6 months before the proposed sale or transfer.(2) The qualified taxpayer shall do all of the following:(a) Provide at their own expense, and in a form and manner acceptable to the office, all of the following information, in addition to the notice: (i) Copy of the executed purchase and sale agreement.(ii) Proof of notification to the department of treasury.(iii) A copy of the deed to the property.(iv) The name and project number of the project that received the credits.(v) The name and address of the property being transferred.(vi) The legal description of the property.(vii) The name and contact information for all qualified taxpayers that received credits resulting from the previous state part 3 certification.(viii) The name and contact information for the new owner.(ix) The date the state part 3 certification for the project was issued.(x) The total amount of state credits received by the project.(xi) Any additional document or information requested by the office.(b) Execute the historic resource transfer agreement.(c) Remit the fee in accordance with rule R 206.209(6).(3) Upon receipt of a fully executed historic resource transfer agreement, the office or its designee shall do both the following:(a) Record the historic resource transfer agreement with the register deeds having jurisdiction over the property.(b) Return a fully executed and recorded copy of the historic resource transfer agreement to the qualified taxpayer and the new owner.Mich. Admin. Code R. 206.212
2022 MR 6, Eff. 3/17/2022