Sec. 3.
Any lien purporting to secure the payment of a transfer fee under a transfer fee covenant that is executed on or after the effective date of this section is void.
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.