2014 Michigan Compiled Laws
Chapter 570 - LIENS
Act 201 of 2010 COMMERCIAL REAL ESTATE BROKER'S LIEN ACT (570.581 - 570.594)
Section 570.592 Partial payment of lien claim; partial satisfaction and release of lien; form.

COMMERCIAL REAL ESTATE BROKER'S LIEN ACT (EXCERPT)
Act 201 of 2010
570.592 Partial payment of lien claim; partial satisfaction and release of lien; form.

Sec. 12.

(1) If a claim of lien recorded under this act has been partially paid, the real estate broker shall provide a partial satisfaction and release of lien in the form provided in subsection (2) within 5 days after written demand by the owner of record or the owner's agent.

(2) A partial satisfaction and release of lien under this section shall meet the requirements of 1937 PA 103, MCL 565.201 to 565.203, and be in substantially the following form:

PARTIAL SATISFACTION AND RELEASE OF LIEN

The claimant named below is the claimant under a claim of commercial real estate broker's lien recorded on ____________ [date] in the office of the register of deeds of _______________ County, Michigan, at Liber _________, Page _________ on the following described property:

[Legal description]

The claimant has been paid $_____________, a portion of the amount of the lien. The remaining amount of the lien is $______.

Therefore, the claimant, for and in consideration of the payment, waives, to the extent of the payment, the claim of or right to a lien under the commercial real estate broker's lien act against the property described above, the building or buildings on the property, and the tenant spaces in the building or buildings.

[Name of Claimant]

By: ________________________

Its Authorized Agent

Signed and sworn to before me in ____________ County, Michigan,

on ________________, ______[year].

_______________________________

[Notary's name, county, acting

in county, state, and date

commission expires]

Prepared By:

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History: 2010, Act 201, Imd. Eff. Oct. 5, 2010