Form 4816 Request to Bill Seller Following a Principal Residence Exemption (Pre) Denial - Michigan

What Is Form 4816?

This is a legal form that was released by the Michigan Department of Treasury - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 4816?A: Form 4816 is a request to bill the seller following a Principal Residence Exemption (PRE) denial in the state of Michigan.

Q: What is a Principal Residence Exemption (PRE) denial?A: A Principal Residence Exemption (PRE) denial means that a property owner's application for a tax exemption on their primary residence has been denied.

Q: Who needs to use Form 4816?A: Form 4816 is used by sellers who have received a Principal Residence Exemption (PRE) denial and want to pass on the excess taxes to the buyer.

Q: Why would someone need to bill the seller following a PRE denial?A: If a seller receives a Principal Residence Exemption (PRE) denial, they are responsible for paying the excess taxes that would have been waived with the exemption. Form 4816 allows sellers to pass on these excess taxes to the buyer.

Q: What information is required on Form 4816?A: Form 4816 requires information such as the seller's name and address, the buyer's name and address, the property identification number, and the amount of excess taxes to be billed.

Q: Is Form 4816 specific to Michigan?A: Yes, Form 4816 is specific to the state of Michigan and is used for billing sellers following a Principal Residence Exemption (PRE) denial in Michigan.

Q: Are there any deadlines for submitting Form 4816?A: Yes, sellers must submit Form 4816 within 45 days of receiving a Principal Residence Exemption (PRE) denial.

Q: What happens after submitting Form 4816?A: After submitting Form 4816, the excess taxes will be billed to the buyer of the property, and it will be the buyer's responsibility to pay these taxes.

Q: Is legal advice required to fill out Form 4816?A: While legal advice is not required, it is recommended to consult with a tax professional or attorney to ensure the form is filled out correctly.