§ 570.581 Short title
§ 570.582 Definitions
§ 570.583 Commercial real estate broker’s lien; availability
§ 570.584 Lien; attachment; conditions; recording; time of filing; contents of claim; form; mailing; claim of lien as void and unenforceable; priority of prior-recorded lien or mortgage; “lease” defined
§ 570.585 Escrow account; establishment to satisfy lien; release
§ 570.586 Action to enforce lien; complaint
§ 570.587 Commencement of action; time period
§ 570.588 Sale of interest in commercial real estate; court order; order of foreclosure; period of redemption; order of deficiency judgment; costs
§ 570.589 Written demand on behalf of owner of commercial real estate; service
§ 570.590 Condition prohibiting compensation; release of lien
§ 570.591 Payment of claim or failure to commence action; release of lien
§ 570.592 Partial payment of lien claim; partial satisfaction and release of lien; form
§ 570.593 Priority of subsequently recorded mortgage; condition
§ 570.594 Written commission agreement signed after effective date of act; applicability
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Terms Used In Michigan Laws > Chapter 570 > Act 201 of 2010 - Commercial Real Estate Broker's Lien Act

  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Buyer: means a purchaser or lessee of a legal or equitable interest in real estate. See Michigan Laws 570.582
  • Claim of lien: means a claim of a commercial real estate broker's lien asserted under this act. See Michigan Laws 570.582
  • Commercial real estate: means real estate or an interest in real estate that is not any of the following:
    (i) Real estate zoned for single-family use and on which no building or structure is located. See Michigan Laws 570.582
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • grantee: may be construed as including every person to whom any such interest or estate passes in like manner. See Michigan Laws 8.3e
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Record: means to record with the register of deeds for the county in which the commercial real estate is located. See Michigan Laws 570.582
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • Seller: means the equitable or legal owner or lessor of an interest in real estate. See Michigan Laws 570.582
  • 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
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o