Section 570.587 – Commencement of Action; Time Period.
570.587 Commencement of action; time period. Sec. 7. (1) An action under section 6 shall be commenced within 1 year after the date the commercial real estate broker’s lien attaches. (2) Failure to commence an action within the applicable time period under this section extinguishes the lien. A later claim of lien for the same […]
Section 570.588 – Sale of Interest in Commercial Real Estate; Court Order; Order of Foreclosure; Period of Redemption; Order of Deficiency Judgment; Costs.
570.588 Sale of interest in commercial real estate; court order; order of foreclosure; period of redemption; order of deficiency judgment; costs. Sec. 8. (1) If the court in an action under section 6 finds that the plaintiff is entitled to the commercial real estate lien and that the amount claimed has not been paid, the […]
Section 570.589 – Written Demand on Behalf of Owner of Commercial Real Estate; Service.
570.589 Written demand on behalf of owner of commercial real estate; service. Sec. 9. A written demand on behalf of the owner of commercial real estate may be served on a person claiming a commercial real estate broker’s lien, demanding that an action be commenced to enforce the lien or that an answer be filed […]
Section 570.590 – Condition Prohibiting Compensation; Release of Lien.
570.590 Condition prohibiting compensation; release of lien. Sec. 10. If a claim of lien has been recorded under this act and a condition occurs that prohibits the real estate broker from receiving compensation under the terms of the written agreement on which the claim is based, the real estate broker shall provide a release of […]
Section 570.591 – Payment of Claim or Failure to Commence Action; Release of Lien.
570.591 Payment of claim or failure to commence action; release of lien. Sec. 11. If a claim of lien recorded under this act has been paid, or if an action to enforce the lien has not been commenced within the time limitations of section 7, the real estate broker shall record a release of lien […]
Section 570.592 – Partial Payment of Lien Claim; Partial Satisfaction and Release of Lien; Form.
570.592 Partial payment of lien claim; partial satisfaction and release of lien; form. Sec. 12. (1) If a claim of lien recorded under this act has been partially paid, the real estate broker shall provide a partial satisfaction and release of lien in the form provided in subsection (2) within 5 days after written demand […]
Section 570.565 – Enforcement of Lien; Notice.
570.565 Enforcement of lien; notice. Sec. 25. To enforce a lien that attaches under section 23, the special tool builder shall give notice of the lien in writing to the customer and the end user. The notice shall be given by hand delivery or certified mail, return receipt requested, to the last known address of […]
Section 570.567 – Rights of Possession.
570.567 Rights of possession. Sec. 27. Subject to section 29, if the special tool builder has not been paid the amount claimed in the notice required under section 25 within 90 days after the notice required under section 25 has been received by the customer and the end user, the special tool builder has a […]
Section 570.569 – Sale of Special Tool With Lien Asserted.
570.569 Sale of special tool with lien asserted. Sec. 29. (1) Before a special tool builder may sell a special tool for which a lien is claimed and for which the required notice has been sent under section 25, the special tool builder shall notify the customer, the end user, and all other persons that […]
Section 570.571 – Sale of Special Tool; Use of Excess Proceeds; Prohibition.
570.571 Sale of special tool; use of excess proceeds; prohibition. Sec. 31. (1) If the proceeds of the sale are greater than the amount of the lien, the proceeds shall first be paid to the special tool builder in the amount necessary to satisfy the lien. All proceeds in excess of the lien shall be […]