Q: I am thinking about buying a cottage by a lake. What do I need to consider? A: You need to consider all the things you would for buying any other property, plus some things unique to waterfront property. They are all important and some complex. If you plan to build there are additional concerns. …
Q: I am buying some property. Do I really need a survey? A: Yes, you really need a survey. If you buy property without a survey, you run the risk that the boundaries of the property are not where you think. Your house may encroach onto your neighbor’s or theirs may encroach onto yours, or …
Michigan is abolishing dower rights for married women. Dower rights provided a safety net. Married women, and their husbands, may now need to take action. With dower, if a husband died owning real property titled in just his name, his widow got the right to income from that property for the balance of her life. …
Attention Married Women: Your Property Rights Are Changing. Read More »
Sometimes landlords feel that the law treats them as parents and tenants as their children. Two cases earlier this year reinforce that. The usual rule in “slip and fall” cases is that, if the defect is open and obvious, the fault lies with the person who slipped. Thus, if a person sees a parking lot …
If you want to build a new house, there are a number of factors you need to verify. Assumptions can lead to problems or at least added cost. –To know if you can legally build what you want, check zoning and private restrictions. You may find you cannot build that accessory building you want. –Verify …
Check It Out. Things to Check in Picking a Building Site. Read More »
In writing legal agreements, it is best to be clear. Often this means that lawyers use legal jargon because courts have already ruled what such jargon means. But legal jargon used incorrectly can make trouble. An easement agreement created an “exclusive” access easement was “for the sole and exclusive use” of both the grantor’s and …
A property owner thought it was protected from an overcharge in the price of material in a construction project because the price of material was specified in the contractor’s contract with the supplier. The Michigan Court of Appeals ruled otherwise. The court rejected the property owner’s reliance upon the contract because the property owner did …
In Construction Contracts, Follow Through Matters Read More »
No one likes to pay taxes so getting a property tax break for one’s principal residence is popular. And taken for granted. And, given that we live where many people like to vacation, renting the home out for a couple weeks while you get away can seem like a good idea. Be aware though that …
Many states give property tax breaks to those who are residents of the state, and deny those breaks to people who are not residents. Individuals and married couples filing joint tax returns can usually have only one principal residence. The tax breaks are big enough that some people cheat, claiming residency in more than one …
For the third year in a row, the state has added an exception to the uncapping rule. The usual rule is that when title to real property changes hands, the “taxable value” is uncapped, increasing to match the “assessed value”, sometimes greatly increasing property taxes for a property. Between such transfers, the TV can only …
Another Year, Another Change in the Uncapping Rules Read More »
