Michigan Compiled Laws Act 237 Of 1879 Land Contracts (565.351 - 565.361)

• 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• Section 565.355 Repealed. 1998, Act 106, Imd.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  Compiler's Notes: The repealed section pertained to refusal to discharge land contract.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