Real Estate Legal News - October 2013 • Volume 4, Number 1

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In This Issue:

- KEEP IT CLEAN: EPA ENDORSES NEW ASTM STANDARD FOR CONDUCTING ESAS:

The United States Environmental Protection Agency (EPA) recently proposed a rule to recognize the updated standard of the American Society for Testing Materials (ASTM) as sufficient to satisfy the EPA’s requirements for conducting an “all appropriate inquiries” investigation under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)...

- A NEW TAX LAW MAY HELP FAMILIES AVOID UNCAPPING ON CERTAIN INTER-FAMILY REAL PROPERTY TRANSFERS:

Effective December 31, 2013, a parent can transfer residential real estate located in Michigan to his or her child without uncapping the taxable value of the property if the child continues to use the property for residential purposes...

- MICHIGAN SUPREME COURT DECISION IMPOSES NEW DUTY ON LANDLORDS:

In the 2001 case of MacDonald v PKT, Inc, 464 Mich. 322 (2001), the Michigan Supreme Court ruled that merchants have a limited duty to contact the police in situations where there is a risk of imminent and foreseeable harm to an identifiable invitee...

Please see full newsletter below for more information.

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Topics:  ASTM, CERCLA, EPA, Landlords, Property Owners, Real Estate Market, Transfer Taxes

Published In: Environmental Updates, Personal Injury Updates, Commercial Real Estate Updates, Residential Real Estate Updates, Tax 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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