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State Specific Community Forums >> Michigan Issues

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Kar1958
recently joined

Reged: 09/22/09
Posts: 17

Cash Settlement

#580556 - 09/22/09 11:41 AM

Hey Michiganders

I need your help. I am divorcing.. my husband and I own 115 acres free and clear. Yes Michigan is not the place to live when divorcing. Anyway..he wants to give me 100,000 in exchange for the proterty plus the house and another ten acres. All will be free and clear. Will that 100,000 he gives me in the settlement agreement be taxed? We are unable to sell, its zones ag and the township will not let us divide it

karen

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cwoz
recently joined

Reged: 06/12/13
Posts: 1

Re: Cash Settlement

[Re: Kar1958]
#803672 - 06/12/13 10:47 AM

Whats the value of the property?

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BeachBabeRN
Carpal \'Tunnel

Reged: 01/16/06
Posts: 3049
Loc: VA for 21 years, NC forever!

Re: Cash Settlement

[Re: cwoz]
#803683 - 06/13/13 03:05 PM

Please note, this post is close to four years old.

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