Section 570.583 – Commercial Real Estate Broker’s Lien; Availability.
570.583 Commercial real estate broker’s lien; availability. Sec. 3. A commercial real estate broker’s lien is only available to an individual licensed as a real estate broker under article 25 of the occupational code, 1980 PA 299, MCL 339.2501 to 339.2518. A commercial real estate broker’s lien is not available to an employee, agent, subagent, […]
Section 570.584 – Lien; Attachment; Conditions; Recording; Time of Filing; Contents of Claim; Form; Mailing; Claim of Lien as Void and Unenforceable; Priority of Prior-Recorded Lien or Mortgage; “Lease” Defined.
570.584 Lien; attachment; conditions; recording; time of filing; contents of claim; form; mailing; claim of lien as void and unenforceable; priority of prior-recorded lien or mortgage; “lease” defined. Sec. 4. (1) A commercial real estate broker’s lien attaches to commercial real estate in favor of a real estate broker if all of the following circumstances […]
Section 570.585 – Escrow Account; Establishment to Satisfy Lien; Release.
570.585 Escrow account; establishment to satisfy lien; release. Sec. 5. (1) If a claim of lien recorded under section 4 would otherwise prevent the closing of a transaction involving commercial real estate, the parties to the transaction shall, subject to subsection (2), establish an escrow account from the proceeds of the transaction in an amount […]
Section 570.586 – Action to Enforce Lien; Complaint.
570.586 Action to enforce lien; complaint. Sec. 6. (1) A person claiming a commercial real estate broker’s lien may bring an action to enforce the lien in the circuit court for the county where the commercial real estate is located by filing a complaint and affidavit that the claim of lien has been recorded. (2) […]