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Michigan Compiled Laws Act 237 Of 1879 Land Contracts (565.351 - 565.361)
AN ACT to provide for the execution, acknowledgment, and recording of contracts for the sale of land.
1879, Act 237, Eff. Aug. 30, 1879
Section 565.351 Land Contract; Acknowledgment; Endorsement.
A contract for the sale of land or any interest in that land shall be executed by the vendor named in the contract, and...
Section 565.352 Land Contract; Execution And Acknowledgment In Another State.
If any such contract be executed in any other state, district or territory, the same shall be executed and acknowledged in the same manner...
Section 565.353 Land Contract; Execution And Acknowledgment In Foreign Country.
If any such contract be executed in any foreign country, it may be executed and acknowledged according to the provisions contained in section 11...
Section 565.354 Land Contract; Recording, Effect.
Any contract executed and acknowledged, according to the foregoing provisions, shall, with the certificates [certificate] thereto attached, be entitled to be recorded in the...
Section 565.355 Repealed. 1998, Act 106, Imd. Eff. June 3, 1998.
Compiler's Notes: The repealed section pertained to refusal to discharge land contract.
Section 565.356 Definitions.
As used in this act: (a) “Assignee” means assignee of the vendor named in a land contract, a succeeding assignee, or a land contract...
Section 565.357 Land Contract Mortgage As Security To Debt Or Obligation; Rights And Interests Of Vendor Or Vendee; Encumbrance; Applicability Of Act To Real Estate Mortgage; Act Additional To Existing Rights And Remedies.
(1) A vendor or a vendee under a land contract may grant a land contract mortgage to secure any debt or obligation that may...
Section 565.358 Land Contract Mortgage; Document; Form; Execution, Acknowledgement, And Recording; Identification Of Encumbered Interest; Perfection Of Mortgage; Priority.
(1) Any document that would be sufficient to constitute a real estate mortgage upon an interest in real property shall constitute a land contract...
Section 565.359 Land Contract Mortgage; Enforcement; Foreclosure; Additional Remedies.
(1) A land contract mortgage may be enforced in accordance with any existing procedure for the enforcement of a real estate mortgage, including, without...
Section 565.360 Nonmortgaging Vendor Or Vendee; Rights Or Remedies Affected; Duties; Payments; Conditions; Duties Of Third Party.
(1) A land contract mortgage shall not, absent voluntary subordination as provided by law, encumber or otherwise affect the rights or remedies of the...
Section 565.361 Payment And Performance Of Contract Obligations; Conveyance Of Land; Discharge Of Land Contract Mortgage Or Release Of Security Assignment; Failure Or Refusal To Make Conveyance Or Discharge; Penalties; Enforcement; Title As Marketable; Subordination To Other Real Estate Interest.
(1) When the vendee named in a land contract, or his or her heirs, successors, or assigns, has fully paid and performed the obligations...
Last modified: October 10, 2016