Michigan · Statutes
Act Act-351-of-1984
10 sections
10 sections
- Mich. Comp. Laws § 445.1621Definitions.
- Mich. Comp. Laws § 445.1622Enforcement of due-on-sale clause generally.
- Mich. Comp. Laws § 445.1623Procedure before sale or transfer of property securing residential window period loan containing due-on-sale clause; fees; grounds for enforcement of due-on-sale clause; failure to follow procedure.
- Mich. Comp. Laws § 445.1624Amendment of loan contract; rate of interest; monthly payments of principal and interest; execution, delivery, and effective date of amendment; lien priority; extending term of loan.
- Mich. Comp. Laws § 445.1625Limitations on enforcement of due-on-sale clause during term of land contracts or second mortgages.
- Mich. Comp. Laws § 445.1626Circumstances under which enforcement prohibited.
- Mich. Comp. Laws § 445.1626aConsent to sale or transfer of real property subject to residential window period loan containing due-on-sale clause.
- Mich. Comp. Laws § 445.1627Contract for sale or transfer of residential property subject to mortgage; provisions in boldface type.
- Mich. Comp. Laws § 445.1628Violation by lender; liability; action to recover civil fine; prohibited conduct by licensee; liability for civil fine; revocation of license; action for declaratory judgment or injunction; action for actual damages and attorneys' fees.
- Mich. Comp. Laws § 445.1629Effective date.