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110 chapters · 1,399 sections in this title.
Mich. Comp. Laws § 125.853 Definitions.
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Sec. 3. As used in this act: (a) "Excepted purchase" means a purchase of a single-family home that is any of the following: (i) Purchased under a build-to-rent program where the large institutional investor purchases newly constructed single-family homes to be managed as rental p…
Mich. Comp. Laws § 125.855 Investment control; single-family home.
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Sec. 5. For purposes of this act, an entity has direct or indirect investment control over a single-family home if any of the following apply: (a) The entity owns or has primary authority or fiduciary responsibility to make material investment or management decisions relating to …
Mich. Comp. Laws § 125.857 Prohibition on purchases by large institutional investors.
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Sec. 7. (1) Except as otherwise provided in this section, a large institutional investor shall not purchase or enter into a contract to directly or indirectly purchase a single-family home in this state. (2) The prohibition under subsection (1) does not apply to any of the follow…
Mich. Comp. Laws § 125.859 Violations; civil fine.
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Sec. 9. A large institutional investor that violates this act is subject to a civil fine of not more than $25,000.00 per single-family home acquired in violation of this act. The prosecutor of the county in which the property acquired in violation of this act is located or the at…