In observance of Veterans Day, all State of Michigan offices, including the Department of Treasury, will be closed on Tuesday, November 11. We honor and thank all who have served. Regular business hours will resume on Wednesday, November 12.
What happens to the funds in a first-time home buyer account when the account holder dies?
A financial institution must distribute the principal and accumulated interest or other income in the account according to the terms of the contract governing the account when proof of death of the account holder is furnished.