UNIFORM DISPOSITION OF COMMUNITY PROPERTY RIGHTS AT DEATH ACT (EXCERPT)
Act 289 of 1975
557.267 Purchaser for value; lender taking security interest in property.
Sec. 7.
(1) If a surviving spouse has apparent title to property to which this act applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.
(2) If a personal representative or an heir or devisee of the decedent has apparent title to property to which this act applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.
(3) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(4) The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender.
History: 1975, Act 289, Eff. Mar. 31, 1976
© 2009 Legislative Council, State of Michigan
