Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 115 of 2022 - Michigan Uniform Assignment of Rents Act (554.1051 - 554.1070)

Section 554.1051 - Short Title. - Sec. 1. This act may be cited as the "Michigan...

Section 554.1052 - Definitions. - Sec. 2. As used in this act: (a) "Assignee" means...

Section 554.1053 - Assignment; Notification; Method; Proper Address Rules. - Sec. 3. (1) Except as otherwise provided in subsections (3)...

Section 554.1054 - Assignment of Rents; Enforceable Security Interest; Discharge; Foreclosure; Applicability. - Sec. 4. (1) An assignment of rents is created by...

Section 554.1055 - Recording With Register of Deeds; Perfected Security Interest; Priority. - Sec. 5. (1) A document creating an assignment of rents...

Section 554.1056 - Assignment Enforcement Methods. - Sec. 6. (1) An assignee may enforce an assignment of...

Section 554.1057 - Appointment of Receiver; Petition; Priority of Receivers. - Sec. 7. (1) An assignee is entitled to the appointment...

Section 554.1058 - Demand Notice to Assignor for Collection of Rents; Notification Requirements. - Sec. 8. (1) Upon the assignor's default, or as otherwise...

Section 554.1059 - Demand Notice to Tenant for Payment of Rents; Notification Requirements. - Sec. 9. (1) Upon the assignor's default, or as otherwise...

Section 554.1060 - Notification to Pay Rents to Person Other Than Landlord; Form. - Sec. 10. No particular phrasing is required for the notification...

Section 554.1061 - Effect of Enforcement of Assignments of Rent. - Sec. 11. The enforcement of an assignment of rents by...

Section 554.1062 - Collection of Rent Proceeds; Use of Funds. - Sec. 12. Unless otherwise agreed, an assignee that collects rents...

Section 554.1063 - Exception for Use of Collection of Rents; Protection of Rights. - Sec. 13. (1) Unless otherwise agreed by the assignee, and...

Section 554.1064 - "Good Faith" Defined; Collection by Assignor; Remedies; Priority. - Sec. 14. (1) In this section, "good faith" means honesty...

Section 554.1065 - Perfection of Security Interests; Priority Rules in Article 9. - Sec. 15. (1) As used in this section: (a) "Article...

Section 554.1066 - Priority Subject to Subordination. - Sec. 16. This act does not preclude subordination by agreement...

Section 554.1067 - Promotion of Uniformity. - Sec. 17. In applying and construing this uniform act, consideration...

Section 554.1068 - Electronic Signatures. - Sec. 18. This act modifies, limits, or supersedes the electronic...

Section 554.1069 - Applicability of Act. - Sec. 19. (1) Except as otherwise provided in this section,...

Section 554.1070 - Repeal of Certain Acts. - Sec. 20. The following acts are repealed: (a) 1925 PA...