We recently posted an article that outlined new exemptions for residential real estate owners to transfer property to relatives without triggering an “uncapping” of the property taxes. Following that recent change in Michigan law, there was some debate within the legal community regarding the continued viability of transfers via one popular estate planning tool—the ladybird…
Category: Real Estate Law
The Dingeman & Dancer Blog consists of articles, news, and press releases written and edited by the attorneys and legal professionals at our firm, providing updates on both recent legal developments and established advice and guidance. Choose from the various topics listed in the sidebar menu to narrow in on a particular focus.
A recent change in Michigan law offers important new planning opportunities for owners of cottages and other residential family property. The change has made it significantly easier to transfer residential real estate (including recreational lands) from one generation to the next without unfavorable tax consequences. Specifically, the recently enacted law provides new exemptions for residential…
An article in the Ticker, published November 26 in the Traverse City Business News caught our eye. In Local Disabled Vets Earn Tax Exemptions by Al Parker, veterans are eligible for property tax exemptions under a recently sign Michigan law. “The law calls for property tax exemptions for veterans who are honorably discharged and…
What happens when a condominium project is left in an incomplete stage of development? What effect does it have upon those who have already purchased a condominium? These questions have become far more common since the economic downturn. Michigan’s Condominium Act provides the legislative authority for the creation of a real property interest known as…