Form 4983 Foreclosure Entity Conditional Rescission of a Principal Residence Exemption (Pre) - Michigan

What Is Form 4983?

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 4983?A: Form 4983 is a document used for the conditional rescission of a Principal Residence Exemption (PRE) in Michigan.

Q: What is a Principal Residence Exemption (PRE)?A: A Principal Residence Exemption (PRE) is a tax exemption given to the owner-occupants of a principal residence in Michigan.

Q: When is Form 4983 used?A: Form 4983 is used when there is a foreclosure on a property that was previously granted a Principal Residence Exemption (PRE).

Q: What does conditional rescission mean?A: Conditional rescission means that the tax exemption is temporarily revoked due to the foreclosure, but it can be reinstated if certain conditions are met.

Q: What information is required on Form 4983?A: Form 4983 requires information such as the property address, the new owner's name and address, and details about the foreclosure and transfer of ownership.

Q: Do I need to pay a fee to file Form 4983?A: No, there is no fee to file Form 4983.

Q: What is the deadline for filing Form 4983?A: Form 4983 must be filed within 90 days from the date of the foreclosure.

Q: What happens if I don't file Form 4983?A: If you don't file Form 4983, you may lose the opportunity to have the Principal Residence Exemption (PRE) reinstated.

Q: Can I appeal if my Form 4983 is denied?A: Yes, if your Form 4983 is denied, you have the right to appeal the decision.

Q: Is Form 4983 specific to Michigan?A: Yes, Form 4983 is specific to Michigan and is used for the conditional rescission of a Principal Residence Exemption (PRE) in the state.