Michigan Compiled Laws Act 13 Of 1968 Possibilities Of Reverter And Rights Of Entry (554.61 - 554.65)

AN ACT to limit the duration of possibilities of reverter and rights of entry in conveyances of real property in certain cases.

History: 1968, Act 13, Imd. Eff. Mar. 29, 1968

Section 554.61 Terminable Interest, Specified Contingency; Definitions.
As used in this act: (a) “Terminable interest” is a possessory or ownership interest in real property which is subject to termination by a...
Section 554.62 Specified Contingency; Termination Right; Limitation Period.
If the specified contingency does not occur within 30 years after the terminable interest is created, the right of termination by reason of the...
Section 554.63 Existing Termination Rights Limitation.
A right of termination under a terminable interest which was created prior to the effective date of this act is unenforceable if the specified...
Section 554.64 Exemptions To Act.
This act does not apply: (a) To a lease for a term of years. (b) If the specified contingency must occur, if at all,...
Section 554.65 Right Of Termination; Preservation; Notice, Recording.
A right of termination may be preserved by the recording, within a period of not less than 25 nor more than 30 years after...

Last modified: October 10, 2016