Sec. 2607.
A specific devise and a transfer under an exercise of a power of appointment that is equivalent to a specific devise, including the exercise of a right to withdraw specific property, passes subject to any mortgage or other security interest existing on the date of death, without right of exoneration, regardless of a general directive in the will to pay debts.
History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article II - Intestacy, Wills, and Donative Transfers (700.2101...700.2959)
386-1998-II-6 - Part 6 Rules of Construction Applicable Only to Wills (700.2601...700.2608)
Section 700.2601 - Definitions.
Section 700.2602 - Scope; Passage of Property and After-Acquired Property.
Section 700.2603 - Substitute Gift.
Section 700.2604 - Failure of Testamentary Provision.
Section 700.2605 - Increase in Securities; Accessions.