Sec. 3.
A right of termination under a terminable interest which was created prior to the effective date of this act is unenforceable if the specified contingency does not occur within 30 years after the terminable interest was created or within 1 year after the effective date of this act, whichever is later.
History: 1968, Act 13, Imd. Eff. Mar. 29, 1968
Structure Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 13 of 1968 - Possibilities of Reverter and Rights of Entry (554.61 - 554.65)
Section 554.61 - Terminable Interest, Specified Contingency; Definitions.
Section 554.62 - Specified Contingency; Termination Right; Limitation Period.
Section 554.63 - Existing Termination Rights Limitation.
Section 554.64 - Exemptions to Act.
Section 554.65 - Right of Termination; Preservation; Notice, Recording.