Michigan Compiled Laws Act 127 Of 1999 Urban Homestead Act (125.2701 - 125.2709)

AN ACT to create an urban homestead program; to permit certain local governmental units or nonprofit community organizations to create and administer urban homestead programs; to prescribe the powers and duties of certain state entities and local governmental units; and to provide for the disposition of personal and real property.

History: 1999, Act 127, Imd. Eff. July 23, 1999
Popular Name: Homesteading

Section 125.2701 Short Title.
This act shall be known and may be cited as the “urban homestead act”. History: 1999, Act 127, Imd. Eff. July 23, 1999 Popular...
Section 125.2702 Definitions.
As used in this act: (a) “Administrator” means a local governmental unit, or a nonprofit community organization under contract with a local governmental unit....
Section 125.2703 Urban Homestead Program; Availability Of Property To Qualified Buyers; Resolution; Designation Of Administrator By Local Government; Appeals Process To Applicants And Buyers.
By resolution, a local governmental unit may operate, or may contract with a nonprofit community organization to operate and administer, an urban homestead program...
Section 125.2704 Eligibility Of Applicant To Rent And Purchase Property; Criteria; Substance Abuse Testing; Verification Of School Attendance.
(1) An applicant that meets all the following criteria is eligible to rent and purchase property as a qualified buyer under this act: (a)...
Section 125.2705 Application To Rent Property; Lease Agreement; Provisions; Conditions For Deeding Property.
(1) A qualified buyer may apply to the administrator to rent certain property in that local governmental unit. The application shall be in a...
Section 125.2706 Disposition Of Rent Receipts.
(1) If the local governmental unit acts as the administrator under this act, the rental receipts shall be deposited in a separate fund within...
Section 125.2707 Additional Powers.
The powers of a local governmental unit prescribed in this act are in addition to any other powers provided by law or charter. History:...
Section 125.2708 Audit.
Not less than every 2 years, the administrator shall hire an independent auditor to audit the books and accounts of the urban homestead program...
Section 125.2709 Late Or Delinquent Rent.
A qualified buyer eligible for and participating in the urban homestead program shall be allowed the opportunity to make up any late or delinquent...

Last modified: October 10, 2016