HB 4110
Property: land sales; seller disclosure statement; require to reflect yearly property taxes based on current assessed value of property. Amends sec. 7 of 1993 PA 92 (MCL 565.957).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires sellers of land in Michigan to include a detailed disclosure statement with the sale, reflecting the current assessed value of the property and any yearly property taxes. The disclosure statement must be updated annually and cover various aspects of the property, including appliances, systems, and potential environmental hazards. It aims to provide buyers with a more accurate picture of the property's financial obligations and condition.
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