Section 570.1121 – Judgment of Foreclosure; Sale of Real Property or Improvement; Satisfaction of Lien From Rents, Profits, and Income; Adding Tax and Insurance Premium Payments; Affidavit; Redemption Period; Conduct of Sale; Right, Title, and Interest Vested in Grantee; Final Order; Deficiency Judgment; Surplus; Bringing Sale Proceeds Into Court; Redemption.
570.1121 Judgment of foreclosure; sale of real property or improvement; satisfaction of lien from rents, profits, and income; adding tax and insurance premium payments; affidavit; redemption period; conduct of sale; right, title, and interest vested in grantee; final order; deficiency judgment; surplus; bringing sale proceeds into court; redemption. Sec. 121. (1) If the court finds […]
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 570.1113 – Making Available to Lien Claimant Copy of Contract and Statement of Amount Due and Unpaid; Liability of Owner or Lessee; Providing to Owner, Lessee, or Designee Statement of Labor and Material Furnished; Liability of Lien Claimant Failing to Provide Statement; Honoring Request for Payment by Lien Claimant.
570.1113 Making available to lien claimant copy of contract and statement of amount due and unpaid; liability of owner or lessee; providing to owner, lessee, or designee statement of labor and material furnished; liability of lien claimant failing to provide statement; honoring request for payment by lien claimant. Sec. 113. (1) An owner or lessee […]
Section 570.1114 – Construction Lien on Interest of Owner or Lessee in Residential Structure; Providing Improvement Under Written Contract Required; Statement; Contents.
570.1114 Construction lien on interest of owner or lessee in residential structure; providing improvement under written contract required; statement; contents. Sec. 114. A contractor does not have a right to a construction lien on the interest of an owner or lessee in a residential structure unless the contractor has provided an improvement to the residential […]
Section 570.1114a – Construction Lien Recorded by Unlicensed Person.
570.1114a Construction lien recorded by unlicensed person. Sec. 114a. (1) The owner of residential property on which a construction lien has been recorded by a person who was not licensed as described in section 114, or any person affected by the lien, may bring an action to discharge the lien. (2) If the court in […]
Section 570.1103 – Definitions.
570.1103 Definitions. Sec. 103. (1) “Actual physical improvement” means the actual physical change in, or alteration of, real property as a result of labor provided, pursuant to a contract, by a contractor, subcontractor, or laborer which is readily visible and of a kind that would alert a person upon reasonable inspection of the existence of […]