Beneficial Interest in Trust Enough for PRE

By Doug Chalgian on June 16, 2018

In this published decision, the Michigan Court of Appeals goes to great lengths to conclude that a person who lives in a house that is owned by an irrevocable trust, which trust provides this person with a right of occupancy, is an “owner” of the house for the purposes of qualifying for the personal residence exclusion with respect to their property taxes.

Click here to read Breakey v Department of Treasury.

 

mm By: Doug Chalgian
Doug Chalgian

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