Michigan Compiled Laws § 700.3903 Indebtedness; Set-off.

700.3903 Indebtedness; set-off.

Sec. 3903.

The amount of a successor's noncontingent indebtedness to the estate if due, or its present value if not due, shall be offset against the successor's interest. However, the successor has the benefit of a defense that would be available to the successor in a direct proceeding for recovery of the debt.

History: 1998, Act 386, Eff. Apr. 1, 2000
Popular Name: EPIC

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Last modified: October 10, 2016