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Selling a Home in Southfield, Oak Park, and Inner Oakland County: What You Need to Know

The inner Oakland County communities of Southfield, Oak Park, Hazel Park, Ferndale, Berkley, and Madison Heights sit in a fascinating position on the real estate map. Geographically, they are sandwiched between Detroit’s urban core and the more affluent outer suburbs like Troy, Birmingham, and Farmington Hills. This creates a market where neighborhood-by-neighborhood conditions can vary … Continued
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How to Sell a Vacant House in Michigan: Risks, Costs, and Your Best Options

A vacant house might seem like a simple asset to hold onto, but in reality it is one of the most expensive and risky types of property to own in Michigan. Every month a house sits empty, the costs pile up — property taxes, insurance, maintenance, utilities, and the risk of vandalism, squatters, or weather … Continued
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Domestic Violence and the Michigan Marital Home: Emergency Sale Options

Domestic Violence and the Michigan Marital Home: Emergency Sale Options + Protective Orders When domestic violence is part of a Michigan marriage, the marital home stops being just a financial asset and becomes a safety issue. If you are in immediate danger, call 911 or the National Domestic Violence Hotline at 1-800-799-7233. This article assumes … Continued
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Selling an Inherited Michigan Rental Property: Special Tax + Tenant Rules

Inheriting a Michigan rental property comes with two pieces of very good news: stepped-up basis under IRC Section 1014 wipes out decades of capital gain and prior depreciation recapture, and Michigan has specific Proposal A uncapping exceptions for certain family transfers. Stepped-Up Basis: The Biggest Tax Gift Under IRC Section 1014, an heir’s basis is … Continued
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Hidden Valuables in a Michigan Estate: Safes, Cash, Coins, and Jewelry

How to Handle Hidden Valuables in a Michigan Estate: Safes, Hidden Cash, Coin Collections, Jewelry Older Michigan homeowners, especially those who lived through the Depression, often hid valuables in places that would surprise their own children. The Personal Representative has a fiduciary duty to find these assets, document them, and include them in the estate. … Continued
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Mid-Life Downsizing in Michigan: Pre-Retirement Strategy at Age 50 to 60

Most articles assume you are 70 and finally ready to leave. But increasingly, savvy Michigan empty nesters are making the move 10-15 years earlier, while they still have full energy, stable income, and time to recover from any misstep. Why Age 50-60 Is the Sweet Spot By mid-50s, kids are launched, career income often peaks, … Continued
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Mid-Month Closings and Rent Proration in Michigan: How Title Companies Calculate It

Closing a Michigan rental on the 1st is clean. Closing on the 17th gets interesting. Rent, security deposits, prepaid utilities, association dues, and property tax all need to be split between the seller and buyer. The Default Michigan Convention Michigan title companies typically prorate using the actual days in the month (not 30-day banker months), … Continued
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Selling Vehicles, Boats, and Trailers from a Michigan Estate: Title Process and Tax

Selling Vehicles, Boats, and Trailers from a Michigan Estate: Title Process + Tax Vehicles, boats, snowmobiles, and trailers are some of the simplest assets to liquidate from a Michigan estate, until you try to do it. This guide walks through title transfer for each common vehicle type. Three Paths to Transfer a Michigan Vehicle Title … Continued