
Real Estate Tax Proration In Michigan
Imagine a real estate closing where there is a disagreement over who owes a $3500 property tax bill that will become due and payable two weeks after the closing. Who is responsible for the tax bill, the seller or the buyer? Should the seller be responsible for a property tax bill that isn’t due and payable until after closing? Should the buyer be responsible for the tax bill that’s due two weeks after closing? The issue should have been dealt with and resolved long before the closing; the issue should have been understood, agreed to, and resolved at the time the parties entered into the agreement of sale.