Homestead Exemption on Two Properties in MI

Mortgage and Lending with Providence Home Mortgage/ICCF

I recently learned that the MI congress passed a law stating that home owners who buy an owner occupied home and retain their previous primary residence while they attempt to sell can keep the homestead exemption for up to three years on both properties. This is a huge benefit to move up buyers who are having a tough time selling.

Comments (1)

ron Dix

Does Michigan Homestead Act / Law permit homestead exemption on two properties simultaneously, when two separate family units have been established for husband and wife at two different locations, due to citcumstances.


May 15, 2013 06:39 AM