God news for those of you who own 2 homes and are selling 1 of them. If you moved to a new home recently and have a vacant home that is listed for sale, there may be some relief for you in the near future. Governor Granholm signed a bill recently that allows for homeowners in this situation to claim 2 homestead exemptions instead of the normal 1.
House Bill 4215, now Public Act 96 of 2008 sponsored by Representative Ed Gaffney (R-Grosse Pointe Farms) enacts that the seller can retain an additional exemption for up to three years on property previously exempt as the owner’s principal residence if the following circumstances are met:
the property is not occupied,
the property is for sale
the property is not leased or available for lease
the property is not used for any business or commercial purpose
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