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32 chapters · 254 sections in this title.
Mich. Comp. Laws § 554.61 Terminable interest, specified contingency; definitions.
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Sec. 1. As used in this act: (a) "Terminable interest" is a possessory or ownership interest in real property which is subject to termination by a provision in a conveyance or other instrument which either creates a right of reversion to a grantor or his heirs, successors or assi…
Mich. Comp. Laws § 554.62 Specified contingency; termination right; limitation period.
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Sec. 2. If the specified contingency does not occur within 30 years after the terminable interest is created, the right of termination by reason of the specified contingency shall be unenforceable.
Mich. Comp. Laws § 554.63 Existing termination rights limitation.
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Sec. 3. A right of termination under a terminable interest which was created prior to the effective date of this act is unenforceable if the specified contingency does not occur within 30 years after the terminable interest was created or within 1 year after the effective date of…
Mich. Comp. Laws § 554.64 Exemptions to act.
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Sec. 4. This act does not apply: (a) To a lease for a term of years. (b) If the specified contingency must occur, if at all, within the period of the rule against perpetuities. (c) If the terminable interest is held for public, educational, religious or charitable purposes. (d) I…