LANDLORD AND TENANT RELATIONSHIPS (EXCERPT)
Act 348 of 1972
554.614 Termination of landlord's interest; liability for security deposit.
Upon termination of a landlord's interest in a rental unit whether by sale, assignment, death, appointment of receiver or otherwise, the landlord or his agent is liable with respect to the security deposit, until the occurrence of any of the following:
(a) Transfer of the deposit to the landlord's successor in interest and written notification to the tenant by ordinary mail of the transfer and of the successor's name and address.
(b) Compliance with section 4 by the successor in interest.
(c) Return of the security deposit to the tenant.
History: 1972, Act 348, Eff. Apr. 1, 1973
Popular Name: Landlord-Tenant Act
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