In the previous installment of this two part series, we discussed the concept of unjust enrichment and under what circumstances it can be raised. Unjust enrichment is not available where an express contract exists. In Premer, the Michigan Court of Appeals confirmed how to properly state a claim for unjust enrichment. In order to state [...]
In Michigan, there are three general types of deeds that are used in real estate transactions: quit claim, covenant, and warranty. Each of these deeds has a different legal impact. Sellers and buyers of real estate should fully understand the impact of the deed they are asked to sign, or accept. The deed with the [...]
There are two general types of leases that you may encounter when leasing commercial property. One type of lease is generally referred to as a gross lease. The other type is generally referred to as a net lease. When the phrase “gross lease” is used, that phrase generally refers to a lease in which the [...]
The Michigan Court of Appeals recently ruled that it is the municipality’s legislative body, and not the County Treasurer, who has the final say as to whether a proposed purchase of tax foreclosed property is for a “public purpose,” as required under Michigan’s General Property Tax Act. In Bay City v. Bay County Treasurer, a [...]
In a unanimous decision, a panel of the Michigan Court of Appeals ruled that a municipality is barred from uncapping the taxable value of a property in future years, so long as the transferee properly filed a Property Transfer Affidavit in the year of transfer. In Michigan Properties, LLC v Meridian Township, the Michigan Court [...]
In a recent opinion, the Michigan Supreme Court clarified some instances where the death of a joint tenant, or the creation or termination of a joint tenancy may lead to an uncapping of the property’s taxable value. In Michigan, a property’s tax bill is calculated by multiplying the applicable millage rate by the property’s taxable [...]
The time has once again arrived to focus on cost reductions achievable by appealing your property taxes. You have recently received your 2011 Notice of Assessment. As discussed below, there is a very limited window of opportunity to protest your property tax assessment. To understand the importance of that Notice of Assessment, a bit of [...]
Under Michigan law, a property’s taxable value is capped and may not increase by more than the rate of inflation until ownership of the property is transferred. However, there are certain types of transfers of ownership that are exempt from this rule and will not cause an uncapping of the taxable value. These no-transfer-of-ownership exemptions [...]
If you’re looking to buy a business, there is a lot to know before you actually make an offer. This is especially true if you’re looking to buy a business that owns a liquor license, such as a bar or restaurant. Once you’ve found the bar that you want to buy, the first step is [...]
When real property is transferred in the state of Michigan, both state and county transfer taxes are assessed based on the purchase price of the property. Transfer taxes are imposed when a deed transferred the ownership of land from one entity to another. However, until recently, the transfer tax did not apply if the buyer [...]
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