Sec. 14.
Upon termination of a landlord's interest in a rental unit whether by sale, assignment, death, appointment of receiver or otherwise, the landlord or his agent is liable with respect to the security deposit, until the occurrence of any of the following:
(a) Transfer of the deposit to the landlord's successor in interest and written notification to the tenant by ordinary mail of the transfer and of the successor's name and address.
(b) Compliance with section 4 by the successor in interest.
(c) Return of the security deposit to the tenant.
History: 1972, Act 348, Eff. Apr. 1, 1973 Popular Name: Landlord-Tenant Act
Structure Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 348 of 1972 - Landlord and Tenant Relationships (554.601 - 554.616)
Section 554.601 - Definitions.
Section 554.602 - Security Deposit; Amount.
Section 554.603 - Security Deposit; Notice.
Section 554.604 - Security Deposit, Disposition; Bond.
Section 554.605 - Security Deposit as Property of Tenant.
Section 554.606 - Waiving Requirements of Act.
Section 554.607 - Security Deposit; Permissible Uses.
Section 554.608 - Inventory Checklists.
Section 554.609 - Itemized List of Damages; Check or Money Order; Contents of Notice of Damages.
Section 554.610 - Effect of Noncompliance With Notice of Damages Requirement.
Section 554.611 - Notice of Forwarding Address; Effect of Noncompliance.
Section 554.612 - Response to Notice of Damages.
Section 554.613 - Action for Damages; Retention of Security Deposit; Waiver.
Section 554.614 - Termination of Landlord's Interest; Liability for Security Deposit.