Tried Real Estate Law board, advised to post here

What is the name of your state? Michigan

If I talk a Land Contract Purchaser into signing a quitclaim deed in lieu of foreclosure proceedings, is that quit claim deed subject to state transfer tax?

Or is it exempt under the same statute that foreclosures enjoy?

Or maybe it wouldn't have any value, so the consideration should be listed as $1.00?

Any ideas?

Thanks

Read my post to your thread in the real estate law forum.
Your question may be moot now.