Home Tax Form L-4033 Commercial Real Property Statement

Form L-4033 Commercial Real Property Statement

 

INSTRUCTIONS: MICHIGAN COMMERCIAL REAL PROPERTY STATEMENT (Form 617)

 

 

Michigan businesses may be required may be required by the state tax commission to submit a statement detailing real property following a purchase. This form 617 is found on the website of the government of Michigan. The form should be completed by the purchaser.

 

Michigan Commercial Real Property Statement 617 Step 1: Under "Return to," enter the name and address to which your processed form should be returned.

 

Michigan Commercial Real Property Statement 617 Step 2: Give the address, city or township, county and assessment roll parcel code number of the property. 

 

Michigan Commercial Real Property Statement 617 Step 3: Provide a description of the property where indicated.

 

Michigan Commercial Real Property Statement 617 Step 4: Under "To Be Completed By Buyer," enter the name of the seller on the left and the name of the buyer on the right.

 

Michigan Commercial Real Property Statement 617 Step 5: Enter the sales price and the date of the sale.

 

Michigan Commercial Real Property Statement 617 Step 6: Indicate with a check mark whether the sale was conducted in cash, as a land contract agreement, as a new mortgage, as a mortgage assumption, a purchase money mortgage arrangement, or in some other form. If the latter, provide a written explanation.

 

Michigan Commercial Real Property Statement 617 Step 7: Indicate with a check mark if the buyer and seller are related, related corporations or business associates. If yes, explain.

 

Michigan Commercial Real Property Statement 617 Step 8: Indicate with a check mark whether you believe the sale price represented the fair market value of the property at the time of sale. If no, explain why.

 

Michigan Commercial Real Property Statement 617 Step 9: At the top of the second page, enter the amount of the down payment, the interest rate, the monthly principal or interest payments, the length of the payment period. Indicate with check marks whether this is a balloon payment or variable rate transaction. If the latter applies, write when the rate will change. If there is lender participation in income or appreciation, provide an explanation.

 

Michigan Commercial Real Property Statement 617 Step 10: Under "Income," give the annual gross income produced by the property at the time of the transaction and the dates covering this period. Itemize rents charged for units on the property. Do the same for expenses under "Expenses."

Download the PDF file .

Comments

comments