Terms Used In Michigan Laws 554.1019

• Personal property: All property that is not real property.
• Property: means all of a person's right, title, and interest, both legal and equitable, in real property, personal property, and fixtures tangible and intangible, wherever located and however acquired. See Michigan Laws 554.1012
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this act or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Michigan Laws 554.1012
• Receivership: means a proceeding in which a receiver is appointed. See Michigan Laws 554.1012
• Receivership property: means the property of an owner that is described in the order appointing a receiver or a subsequent order. See Michigan Laws 554.1012
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 554.1012
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}