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Buying or Selling a Home/property tax and deceased property buying

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Expert: - 8/2/2006


Question
I have been living in the house my Mother lived in my whole life of 37 years. She recently passed away. There was a living trust of splitting everything up 3 ways between my sisters and me. I am going to buy my sisters portion of the house. Is there any way to keep the property taxes from going up since I have been already living there? I live in Michigan.

Answer
If you have a living trust, that means you are the new trustee. It also means the property's title has not changed. It is still in the name of the trust. However, just to make sure, you should ask this question of an attorney who specializes in family trusts. Your property taxes will go up as it has in the past, by periodic reassessment.

I do wish you well.

Dick Dennis            dixiedee13@aol.com  

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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