Terms Used In Michigan Laws > Chapter 123 > Act 37 of 1961 - Contracts for Assessing Services

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• alternative energy system: means that term as defined in section 2 of the Michigan next energy authority act, 2002 PA 593, MCL 207. See Michigan Laws 211.27
• Appraisal: A determination of property value.
• Charitable nonprofit housing organization: means a charitable nonprofit organization the primary purpose of which is the construction or renovation of residential housing for conveyance to a low-income person. See Michigan Laws 211.27
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Eligible nonprofit housing property: means property owned by a charitable nonprofit housing organization, the ownership of which the charitable nonprofit housing organization intends to transfer to a low-income person after construction or renovation of the property is completed. See Michigan Laws 211.27
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Low-income person: means a person with a family income of not more than 80% of the statewide median gross income who is eligible to participate in the charitable nonprofit housing organization's program based on criteria established by the charitable nonprofit housing organization. See Michigan Laws 211.27
• Personal property: All property that is not real property.
• present economic income: means for leased or rented property the ordinary, general, and usual economic return realized from the lease or rental of property negotiated under current, contemporary conditions between parties equally knowledgeable and familiar with real estate values. See Michigan Laws 211.27
• purchase price: means the total consideration agreed to in an arms-length transaction and not at a forced sale paid by the purchaser of the property, stated in dollars, whether or not paid in dollars. See Michigan Laws 211.27
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• standard tool: means that term as defined in section 9b. See Michigan Laws 211.27
• true cash value: means the usual selling price at the place where the property to which the term is applied is at the time of assessment, being the price that could be obtained for the property at private sale, and not at auction sale except as otherwise provided in this section, or at forced sale. See Michigan Laws 211.27