Michigan Laws 322.1 – Real estate acquired by state; sale or lease; authorization
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Terms Used In Michigan Laws 322.1
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
Whenever the title to any real estate has vested in this state by grant, devise or gift, or in payment for care or medical treatment rendered in any state hospital or institution, the real estate or any part thereof may be sold or leased by the state treasurer with the approval of the state administrative board.