Section 570.1122 – Appointing Receiver in Action to Enforce Construction Lien Through Foreclosure or in Action to Foreclose Mortgage; Petition; Motion; Finding; Appointment; Nominations by Mortgagee and Lien Claimant; Fiduciary Responsibility; Appointment of Receiver for Residential Structure or Certain Apartment Buildings Prohibited; Power of Receiver.
570.1122 Appointing receiver in action to enforce construction lien through foreclosure or in action to foreclose mortgage; petition; motion; finding; appointment; nominations by mortgagee and lien claimant; fiduciary responsibility; appointment of receiver for residential structure or certain apartment buildings prohibited; power of receiver. Sec. 122. (1) If the improvement to the real property is not […]
Section 570.1123 – Petition by Receiver for Authority to Complete Construction of Improvements, Borrow Money, Grant Security, or Sell Real Property Under Foreclosure; Sale; Redemption Period; Purchase of Real Property by Lien Claimant or Mortgagee; Right, Title, and Interest Vested in Grantee.
570.1123 Petition by receiver for authority to complete construction of improvements, borrow money, grant security, or sell real property under foreclosure; sale; redemption period; purchase of real property by lien claimant or mortgagee; right, title, and interest vested in grantee. Sec. 123. (1) The receiver may petition the court for authority to complete construction of […]
Section 570.1124 – Final Account of Receiver; Final Order Directing Distribution of Assets; Order of Priority; Deficiency Judgment; Notice of Hearing.
570.1124 Final account of receiver; final order directing distribution of assets; order of priority; deficiency judgment; notice of hearing. Sec. 124. (1) Upon the completion of the sale of the real property, the receiver shall prepare and submit a final account for examination and approval by the court. The court shall enter a final order […]
Section 570.1125 – Assignability of Construction Lien; Powers and Obligations of Assignee.
570.1125 Assignability of construction lien; powers and obligations of assignee. Sec. 125. A construction lien which arises under this act is assignable. Proceedings for the enforcement of the lien may be maintained by, and in the name of, the assignee. In that case, the assignee shall have the same power to enforce the construction lien, […]
Section 570.1126 – Construction Lien Concerning Condominium; Limitations; Definitions.
570.1126 Construction lien concerning condominium; limitations; definitions. Sec. 126. (1) A construction lien, concerning a condominium, arising under this act is subject to the following limitations: (a) Except as otherwise provided in this section, a construction lien for an improvement furnished to a condominium unit or to a limited common element shall attach only to […]
Section 570.1127 – Full Payment of Claim of Lien; Certificate; Discontinuance or Dismissal of Action to Enforce Lien Through Foreclosure and to Discharge Notice of Lis Pendens; Documents; Providing Discharges of Lien and Other Documents.
570.1127 Full payment of claim of lien; certificate; discontinuance or dismissal of action to enforce lien through foreclosure and to discharge notice of lis pendens; documents; providing discharges of lien and other documents. Sec. 127. (1) When any claim of lien has been fully paid, the lien claimant shall deliver to the owner, lessee, or […]
Section 570.1104 – Additional Definitions.
570.1104 Additional definitions. Sec. 104. (1) “Court” means the circuit court in which an action to enforce a construction lien through foreclosure is pending. (2) “Design professional” means an individual who is licensed or registered as an architect, professional engineer, or professional surveyor under article 20 of the occupational code, 1980 PA 299, MCL 339.2001 […]
Section 570.1116 – Claim of Lien; Vacation and Discharge; Bond; Penal Sum; Filing; Notification of Lien Claimant; Objection to Sufficiency of Surety; Appearance by Surety; Approval of Bond; Certificate; Recordation; Discharge of Claim of Lien and Notice of Lis Pendens; Action by Obligee; Court Order or Other Relief.
570.1116 Claim of lien; vacation and discharge; bond; penal sum; filing; notification of lien claimant; objection to sufficiency of surety; appearance by surety; approval of bond; certificate; recordation; discharge of claim of lien and notice of lis pendens; action by obligee; court order or other relief. Sec. 116. (1) The claim of lien of a […]
Section 570.1105 – Additional Definitions.
570.1105 Additional definitions. Sec. 105. (1) “Lessee” means a person, other than the owner, who holds an interest, other than a security interest, in real property. (2) “Lien claimant” means a person having a right to a construction lien under this act. (3) “Owner” means a person holding a fee interest in real property or […]
Section 570.1117 – Action for Enforcement of Construction Lien Through Foreclosure; Notice of Lis Pendens; Agent Appointed to Represent Laborers; Parties; Action on Contract by Lien Claimant; Enforcement of Lien by Cross-Claim or Counterclaim Where Lien Claimant Party; Sworn Statement.
570.1117 Action for enforcement of construction lien through foreclosure; notice of lis pendens; agent appointed to represent laborers; parties; action on contract by lien claimant; enforcement of lien by cross-claim or counterclaim where lien claimant party; sworn statement. Sec. 117. (1) Proceedings for the enforcement of a construction lien and the foreclosure of any interests […]