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2022 Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 115 of 2022 - Michigan Uniform Assignment of Rents Act (554.1051 - 554.1070)
AN ACT to enact the uniform assignment of rents act; to provide for the creation, perfection, and enforcement of security interests in rents; to provide remedies; and to repeal acts and parts of acts.
History: 2022, Act 115, Eff. Sept. 22, 2022
- Section 554.1051 - Short Title.
- Section 554.1052 - Definitions.
- Section 554.1053 - Assignment; Notification; Method; Proper Address Rules.
- Section 554.1054 - Assignment of Rents; Enforceable Security Interest; Discharge; Foreclosure; Applicability.
- Section 554.1055 - Recording With Register of Deeds; Perfected Security Interest; Priority.
- Section 554.1056 - Assignment Enforcement Methods.
- Section 554.1057 - Appointment of Receiver; Petition; Priority of Receivers.
- Section 554.1058 - Demand Notice to Assignor for Collection of Rents; Notification Requirements.
- Section 554.1059 - Demand Notice to Tenant for Payment of Rents; Notification Requirements.
- Section 554.1060 - Notification to Pay Rents to Person Other Than Landlord; Form.
- Section 554.1061 - Effect of Enforcement of Assignments of Rent.
- Section 554.1062 - Collection of Rent Proceeds; Use of Funds.
- Section 554.1063 - Exception for Use of Collection of Rents; Protection of Rights.
- Section 554.1064 - "Good Faith" Defined; Collection by Assignor; Remedies; Priority.
- Section 554.1065 - Perfection of Security Interests; Priority Rules in Article 9.
- Section 554.1066 - Priority Subject to Subordination.
- Section 554.1067 - Promotion of Uniformity.
- Section 554.1068 - Electronic Signatures.
- Section 554.1069 - Applicability of Act.
- Section 554.1070 - Repeal of Certain Acts.
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