Bill To Prevent Cottage Uncapping Signed Into Law

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On December 27, 2012, HR-4753 was signed into law by Michigan Gov. Rick Snyder.  As stated in our previous blog, "HR-4753: An Early Christmas Gift for Michigan Cottage Owners!", this bill allows parents to transfer residential real estate to a child after December 31, 2013 without triggering an uncapping of the property taxes.  We would be happy to assist your family with any questions you may have in relation to this bill.

Topics:  Generation-Skipping Transfer, Realty Transfer Taxes

Published In: Administrative Agency Updates, Residential Real Estate Updates, Tax Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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