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2019 Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 228 of 1925 Rents and Profits Under Trust Mortgage (554.211 - 554.214)
Section 554.211 Assignment of Rents and Profits Under Trust Mortgage or Deed; Lawfulness.
Universal Citation: MI Comp L § 554.211 (2019)
554.211 Assignment of rents and profits under trust mortgage or deed; lawfulness.
Sec. 1.
Hereafter, in or in connection with any trust mortgage or deed of trust, to secure bonds or obligations issued or to be issued thereunder, it shall be lawful to assign the rents and profits of the property mortgaged to the trustee or trustees under the trust mortgage or deed of trust for the benefit of the bondholders and holders of the obligations issued or to be issued under the trust mortgage or deed of trust.
History: 1925, Act 228, Eff. Aug. 27, 1925 ;-- CL 1929, 13498 ;-- CL 1948, 554.211
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