Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 227 of 2022
House: Adjourned until Tuesday, November 29, 2022 1:30:00 PM
Senate: Adjourned until Tuesday, November 29, 2022 10:00:00 AM


Michigan Legislature

Main Content

Section 554.1061

MICHIGAN UNIFORM ASSIGNMENT OF RENTS ACT (EXCERPT)
Act 115 of 2022


554.1061 Effect of enforcement of assignments of rent.

Sec. 11.

  The enforcement of an assignment of rents by 1 or more of the methods identified in sections 7, 8, and 9, the application of proceeds by the assignee under section 12 after enforcement, the payment of expenses under section 13, or an action under section 14(4) does not do any of the following:
  (a) Make the assignee a mortgagee in possession of the real property.
  (b) Make the assignee an agent of the assignor.
  (c) Constitute an election of remedies that precludes a later action to enforce the secured obligation or the security instrument.
  (d) Make the secured obligation or the security instrument unenforceable.
  (e) Limit any right available to the assignee with respect to the secured obligation.
  
  


History: 2022, Act 115, Eff. Sept. 22, 2022




up icon