Sec. 11.
If a claim of lien recorded under this act has been paid, or if an action to enforce the lien has not been commenced within the time limitations of section 7, the real estate broker shall record a release of lien under section 5 within 5 days after a written demand by the owner of record or the owner's agent and provide a copy of the recorded release.
History: 2010, Act 201, Imd. Eff. Oct. 5, 2010
Structure Michigan Compiled Laws
Act 201 of 2010 - Commercial Real Estate Broker's Lien Act (570.581 - 570.594)
Section 570.581 - Short Title.
Section 570.582 - Definitions.
Section 570.583 - Commercial Real Estate Broker's Lien; Availability.
Section 570.585 - Escrow Account; Establishment to Satisfy Lien; Release.
Section 570.586 - Action to Enforce Lien; Complaint.
Section 570.587 - Commencement of Action; Time Period.
Section 570.589 - Written Demand on Behalf of Owner of Commercial Real Estate; Service.
Section 570.590 - Condition Prohibiting Compensation; Release of Lien.
Section 570.591 - Payment of Claim or Failure to Commence Action; Release of Lien.
Section 570.592 - Partial Payment of Lien Claim; Partial Satisfaction and Release of Lien; Form.
Section 570.593 - Priority of Subsequently Recorded Mortgage; Condition.
Section 570.594 - Written Commission Agreement Signed After Effective Date of Act; Applicability.