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Property Tax Exemption Options
Summary
In Michigan, adding a disabled veteran to a property deed may have tax implications. A 100% VA disability rating is required for a property tax exemption. Tenants by the entirety is for married couples, not mother and son. Consider joint tenancy with right of survivorship or life estate for ownership. Unauthorized transactions should be reported to your bank and the FTC. If denied, file a complaint with the CFPB. Small claims court is an option for disputes under $6,500.Full Conversation
I want to make sure that if she put the property in my name that *. it would get the tax exemption for disabled vet, and that any debts I owe they can not take the property
- Michigan offers a property tax exemption for disabled veterans if the property is used as a principal residence.
- Your debts cannot affect the property if you hold it as "tenants by the entirety" with your mother.
- Consult a local attorney to ensure the transfer is handled correctly.
Do you need more details on the tax exemption process or about protecting the property from creditors?
- Your debts cannot affect the property if you hold it as "tenants by the entirety" with your mother.
- Consult a local attorney to ensure the transfer is handled correctly.
Do you need more details on the tax exemption process or about protecting the property from creditors?
what is "tenants by the entirety"
"Tenants by the entirety" is a form of joint property ownership available only to married couples.
Key points:
- Both spouses own the property as a single legal entity.
- Protects the property from creditors of one spouse.
- Upon death, the surviving spouse automatically owns the entire property.
Would you like more information on protecting property from creditors or other ownership options?
Key points:
- Both spouses own the property as a single legal entity.
- Protects the property from creditors of one spouse.
- Upon death, the surviving spouse automatically owns the entire property.
Would you like more information on protecting property from creditors or other ownership options?
can it apply to mother and son
In Michigan, "tenants by the entirety" is only available to married couples. For mother and son, you might consider "joint tenancy with right of survivorship" or "life estate" as alternatives for protecting the property.
Do you need more information on these options?
Do you need more information on these options?
please explain what those mean
Case Rating: *
Sure, here’s a brief explanation:
- Joint Tenancy with Right of Survivorship:
- Both parties co-own the property.
- Upon one owner's death, the surviving owner automatically inherits the deceased's share.
- Can help avoid probate.
- Life Estate:
- The mother retains the right to live in the property for life.
- Upon her death, ownership passes to the son.
- Protects the mother’s right to live there.
Do you need more details on how each option works?
Sure, here’s a brief explanation:
- Joint Tenancy with Right of Survivorship:
- Both parties co-own the property.
- Upon one owner's death, the surviving owner automatically inherits the deceased's share.
- Can help avoid probate.
- Life Estate:
- The mother retains the right to live in the property for life.
- Upon her death, ownership passes to the son.
- Protects the mother’s right to live there.
Do you need more details on how each option works?
would it still get the disabled vet tax exempt
In Michigan, to qualify for the disabled veteran property tax exemption, the property must be used as your principal residence.
- Joint Tenancy with Right of Survivorship: If you live in the property and it's your principal residence, you could qualify for the exemption.
- Life Estate: The exemption may not apply if your mother retains a life estate and you do not live there as your principal residence.
Which option are you leaning towards for the property arrangement?
- Joint Tenancy with Right of Survivorship: If you live in the property and it's your principal residence, you could qualify for the exemption.
- Life Estate: The exemption may not apply if your mother retains a life estate and you do not live there as your principal residence.
Which option are you leaning towards for the property arrangement?
what if I were to live on the property would it get it then
If you live on the property and it's your principal residence, you could qualify for the disabled veteran property tax exemption in Michigan. This applies whether it's through joint tenancy with right of survivorship or other forms of ownership where you are listed as an owner.
Would you like more information on the application process for this exemption?
Would you like more information on the application process for this exemption?
yes
To apply for the disabled veteran property tax exemption in Michigan:
- Obtain the necessary forms from your local assessor's office or website.
- Provide proof of your disability rating from the VA (*% disability).
- Submit the completed form along with proof of residency.
Would you like more details on how to obtain and submit these forms?
- Obtain the necessary forms from your local assessor's office or website.
- Provide proof of your disability rating from the VA (*% disability).
- Submit the completed form along with proof of residency.
Would you like more details on how to obtain and submit these forms?
what is the rating to get the exemption i am only considered *%
In Michigan, to qualify for the disabled veteran property tax exemption, you must have a *% disability rating from the VA. Since you have a *% disability rating, you currently do not meet the criteria for this specific exemption.
Would you like information on other potential tax relief options or legal advice for protecting the property from creditors?
Would you like information on other potential tax relief options or legal advice for protecting the property from creditors?
if I report to the merchant who accepted unauthorized transactions and I get an FTC Identy theft report and send it to them and they close my account how can i get my money back
You should report the unauthorized transactions to your bank or credit card issuer immediately. Here's a general process you can follow:
- Report the fraud to your bank.
- Provide them with the FTC Identity Theft report.
- Dispute the unauthorized transactions.
- Follow up to ensure the bank investigates and resolves the issue.
Have you already contacted your bank about these transactions?
- Report the fraud to your bank.
- Provide them with the FTC Identity Theft report.
- Dispute the unauthorized transactions.
- Follow up to ensure the bank investigates and resolves the issue.
Have you already contacted your bank about these transactions?
yes and they denied my intial clain
I'm sorry to hear that. Here's what you can do next:
- Request a written explanation from your bank for the denial.
- File a complaint with the Consumer Financial Protection Bureau (CFPB).
- Consider disputing the claim again with additional evidence.
Would you like more detailed steps on how to proceed with the CFPB complaint?
- Request a written explanation from your bank for the denial.
- File a complaint with the Consumer Financial Protection Bureau (CFPB).
- Consider disputing the claim again with additional evidence.
Would you like more detailed steps on how to proceed with the CFPB complaint?
yes an what aditional evidence could i provide
To strengthen your case, you can provide the following additional evidence:
- Copies of unauthorized transactions.
- Correspondence with the merchant and bank.
- Proof of your identity and FTC Identity Theft Report.
- Any prior disputes and their outcomes.
- Affidavits or statements from witnesses, if applicable.
Website: www.consumerfinance.gov
Would you like more detailed steps on filing the complaint with the CFPB?
- Copies of unauthorized transactions.
- Correspondence with the merchant and bank.
- Proof of your identity and FTC Identity Theft Report.
- Any prior disputes and their outcomes.
- Affidavits or statements from witnesses, if applicable.
Consumer Financial Protection Bureau (CFPB)
Website: www.consumerfinance.gov
Would you like more detailed steps on filing the complaint with the CFPB?
is there anything i can write the merchant now that will make them refund it
You can write a formal request to the merchant for a refund, highlighting the unauthorized transaction. Here's a draft:
---
Dear [Merchant's Name],
I am writing to request a refund for an unauthorized transaction on my account. The transaction of [amount] on [date] was not authorized by me, and I have reported this to my bank and submitted an FTC Identity Theft Report.
Please review this matter urgently and process the refund. I look forward to your prompt resolution.
Sincerely,
[Your Name]
---
Would you like more information on any specific aspect of this process?
---
Dear [Merchant's Name],
I am writing to request a refund for an unauthorized transaction on my account. The transaction of [amount] on [date] was not authorized by me, and I have reported this to my bank and submitted an FTC Identity Theft Report.
Please review this matter urgently and process the refund. I look forward to your prompt resolution.
Sincerely,
[Your Name]
---
Would you like more information on any specific aspect of this process?
i aleady did that
Since you have already contacted the merchant and your bank, the next step is to file a complaint with the CFPB.
~Consumer Financial Protection Bureau (CFPB)
Website: www.consumerfinance.gov
Provide all supporting documents and evidence in your complaint.
Would you like detailed steps on the complaint filing process?
Website: www.consumerfinance.gov
Provide all supporting documents and evidence in your complaint.
Would you like detailed steps on the complaint filing process?
is there any thing that i can say that will force them to refund it withing * hours
You can emphasize the urgency and potential legal consequences. Here's a draft:
---
Dear [Merchant's Name],
I am writing again regarding the unauthorized transaction of [amount] on [date]. As a disabled veteran, this situation is causing significant hardship. If I do not receive a refund within * hours, I will be forced to take legal action and report this matter to consumer protection agencies.
Sincerely,
[Your Name]
---
Would you like more details on legal actions you can take if they do not comply?
---
Dear [Merchant's Name],
I am writing again regarding the unauthorized transaction of [amount] on [date]. As a disabled veteran, this situation is causing significant hardship. If I do not receive a refund within * hours, I will be forced to take legal action and report this matter to consumer protection agencies.
Sincerely,
[Your Name]
---
Would you like more details on legal actions you can take if they do not comply?
will they comply?
It's difficult to predict with certainty whether the merchant will comply within * hours, but emphasizing the urgency and potential legal consequences may increase your chances. If they still do not comply, you can escalate the issue by filing a complaint with the CFPB and considering legal action.
Would you like more information on the legal steps you can take if the merchant does not comply?
Would you like more information on the legal steps you can take if the merchant does not comply?
is it worth legal action since the amount of an attorny cost me more than its worth
Given the cost of hiring an attorney might exceed the amount you're trying to recover, it may not be worth pursuing legal action through a lawyer.
You might consider:
- Filing a complaint with the CFPB.
- Exploring small claims court as a cost-effective option.
Would you like more details on how to proceed with small claims court?
You might consider:
- Filing a complaint with the CFPB.
- Exploring small claims court as a cost-effective option.
Would you like more details on how to proceed with small claims court?
the amount in question is around *
You can consider small claims court in Michigan as it is designed for disputes involving smaller amounts of money, typically up to $*,*.
Would you like more detailed information on how to file a claim in small claims court?
Would you like more detailed information on how to file a claim in small claims court?
yes
To file a claim in small claims court in Michigan:
- Obtain the necessary forms from your local district court.
- Fill out the forms with details of your case.
- Pay the filing fee (varies by court).
- Serve the defendant (merchant) with the complaint.
- Prepare your evidence and present your case in court.
Would you like more details on any specific step?
- Obtain the necessary forms from your local district court.
- Fill out the forms with details of your case.
- Pay the filing fee (varies by court).
- Serve the defendant (merchant) with the complaint.
- Prepare your evidence and present your case in court.
Would you like more details on any specific step?
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