Section 554.1058 – Demand Notice to Assignor for Collection of Rents; Notification Requirements.
554.1058 Demand notice to assignor for collection of rents; notification requirements. Sec. 8. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give the assignor a notice demanding that the assignor pay over the proceeds of any rents that the assignee is entitled to collect under section 6. The […]
Section 554.1059 – Demand Notice to Tenant for Payment of Rents; Notification Requirements.
554.1059 Demand notice to tenant for payment of rents; notification requirements. Sec. 9. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give to a tenant of the real property a notification demanding that the tenant pay to the assignee all unpaid accrued rents and all unaccrued rents as […]
Section 554.1060 – Notification to Pay Rents to Person Other Than Landlord; Form.
554.1060 Notification to pay rents to person other than landlord; form. Sec. 10. No particular phrasing is required for the notification specified in section 9. However, the following form of notification, when properly completed, is sufficient to satisfy the requirements of section 9: NOTIFICATION TO PAY RENTS TO PERSON OTHER THAN LANDLORD Your landlord, ______________, […]
Section 554.1061 – Effect of Enforcement of Assignments of Rent.
554.1061 Effect of enforcement of assignments of rent. Sec. 11. The enforcement of an assignment of rents by 1 or more of the methods identified in sections 7, 8, and 9, the application of proceeds by the assignee under section 12 after enforcement, the payment of expenses under section 13, or an action under section […]
Section 554.1036 – Uniformity of Law.
554.1036 Uniformity of law. Sec. 26. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: 2018, Act 16, Eff. May 7, 2018
Section 554.1037 – Electronic Signatures in Global and National Commerce Act.
554.1037 Electronic signatures in global and national commerce act. Sec. 27. This act modifies, limits, or supersedes the electronic signatures in global and national commerce act, 15 USC 7001 to 7031, but does not modify, limit, or supersede 15 USC 7001(c) or authorize electronic delivery of any of the notices described in 15 USC 7003(b). […]
Section 554.1038 – Receiver Appointed Before Effective Date of Act.
554.1038 Receiver appointed before effective date of act. Sec. 28. This act does not apply to a receivership for which the receiver was appointed before the effective date of this act. History: 2018, Act 16, Eff. May 7, 2018
Section 554.1040 – Effective Date.
554.1040 Effective date. Sec. 30. This act takes effect 90 days after the date it is enacted into law. History: 2018, Act 16, Eff. May 7, 2018
Section 554.1051 – Short Title.
554.1051 Short title. Sec. 1. This act may be cited as the “Michigan uniform assignment of rents act”. History: 2022, Act 115, Eff. Sept. 22, 2022
Section 554.1052 – Definitions.
554.1052 Definitions. Sec. 2. As used in this act: (a) “Assignee” means a person entitled to enforce an assignment of rents. Assignee includes the purchaser at a foreclosure sale by operation of law. (b) “Assignment of rents” means a transfer of an interest in rents in connection with an obligation secured by real property located […]