Sec. 2.
A transfer fee covenant that is executed on or after the effective date of this section, whether or not recorded, does not run with the title to real property and is not binding on or enforceable against any subsequent owner, purchaser, or mortgagee of any interest in the real property as an equitable servitude or otherwise.
History: 2011, Act 35, Imd. Eff. May 24, 2011
Structure Michigan Compiled Laws
Chapter 565 - Conveyances of Real Property
Act 35 of 2011 - Transfer Fee Covenants Attaching to Residential Real Property (565.891 - 565.894)
Section 565.891 - Definitions.
Section 565.892 - Transfer Fee Covenant; Effect.
Section 565.893 - Lien as Void.
Section 565.894 - Action to Clear Title; Other Equitable Relief; Attorney Fees and Costs.