Michigan Laws 213.51 – Definitions
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As used in this act:
(a) “Acquire” or “take” means to secure transfer of ownership of property to an agency by involuntary expropriation.
Terms Used In Michigan Laws 213.51
- Agency: means a public agency or private agency. See Michigan Laws 213.51
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- taking: means the transfer of ownership of property to an agency by involuntary expropriation. See Michigan Laws 213.51
(b) “Acquisition” or “taking” means the transfer of ownership of property to an agency by involuntary expropriation.
(c) “Agency” means a public agency or private agency.
(d) “Appraisal” means an expert opinion of the value of property taken or damaged, or other expert opinion pertaining to the amount of just compensation.
(e) “Constructive taking” or “de facto taking” means conduct, other than regularly established judicial proceedings, sufficient to constitute a taking of property within the meaning of section 2 of article X of the state constitution of 1963.
(f) “Owner” means a person, fiduciary, partnership, association, corporation, or a governmental unit or agency having an estate, title, or interest, including beneficial, possessory, and security interest, in a property sought to be condemned.
(g) “Parcel” means an identifiable unit of land, whether physically contiguous or not, having substantially common beneficial ownership, all or part of which is being acquired, and treated as separate for valuation purposes.
(h) “Private agency” means a person, partnership, association, corporation, or entity, other than a public agency, authorized by law to condemn property.
(i) “Property” means land, buildings, structures, tenements, hereditaments, easements, tangible and intangible property, and property rights whether real, personal, or mixed, including fluid mineral and gas rights.
(j) “Public agency” means a governmental unit, officer, or subdivision authorized by law to condemn property.