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Michigan Statutes, Title 565

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Title 565, CONVEYANCES OF REAL PROPERTY

44 chapters · 194 sections in this title.

All chapters in Title 565194 Ch R.S.-of-1846, Revised Statutes of 184645 Ch 92-of-1993, SELLER DISCLOSURE ACT16 Ch 234-of-2022, DISCHARGE OF PROHIBITED RESTRICTIVE …12 Ch 200-of-1945, MARKETABLE RECORD TITLE10 Ch 237-of-1879, LAND CONTRACTS10 Ch 123-of-2010, UNIFORM REAL PROPERTY ELECTRONIC REC…8 Ch 6-of-2022, MICHIGAN FIRST-TIME HOME BUYER SAVIN…7 Ch 348-of-1990, PRIORITY OF MORTGAGES7 Ch 123-of-1915, RECORDING AFFIDAVITS AFFECTING REAL …6 Ch 66-of-1956, OIL AND GAS ASSIGNMENTS5 Ch 21-of-1861, CONFIRMATION OF CERTAIN DEEDS AND IN…4 Ch 25-of-1836, RECORDS OF DEEDS AND OTHER CONVEYANCES4 Ch 34-of-2011, TRANSFER FEE COVENANTS ATTACHING TO …4 Ch 35-of-2011, TRANSFER FEE COVENANTS ATTACHING TO …4

16 sections·Filtered byTitle 565✕Ch 92-of-1993✕

Mich. Comp. Laws § 565.951 Short title.
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Sec. 1. This act shall be known and may be cited as the "seller disclosure act".
Mich. Comp. Laws § 565.952 Applicability of seller disclosure requirements.
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Sec. 2. The seller disclosure requirements of sections 4 to 13 apply to the transfer of any interest in real estate consisting of not less than 1 or more than 4 residential dwelling units, whether by sale, exchange, installment land contract, lease with an option to purchase, any…
Mich. Comp. Laws § 565.953 Seller disclosure requirements; exceptions.
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Sec. 3. The seller disclosure requirements of sections 4 to 13 do not apply to any of the following: (a) Transfers pursuant to court order, including, but not limited to, transfers ordered by a probate court in administration of an estate, transfers pursuant to a writ of executio…
Mich. Comp. Laws § 565.954 Written statement; delivery; time limits; compliance; terminating purchase agreement within certain time limits; expiration of right to terminate.
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Sec. 4. (1) The transferor of any real property described in section 2 shall deliver to the transferor's agent or to the prospective transferee or the transferee's agent the written statement required by this act. If the written statement is delivered to the transferor's agent, t…

Mich. Comp. Laws § 565.955 Liability for error, inaccuracy, or omission; delivery as compliance with requirements of act; conditions.

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Sec. 5. (1) The transferor or his or her agent is not liable for any error, inaccuracy, or omission in any information delivered pursuant to this act if the error, inaccuracy, or omission was not within the personal knowledge of the transferor, or was based entirely on informatio…

Mich. Comp. Laws § 565.956 Disclosures; inaccuracy as result of action, occurrence, or agreement after delivery; unknown or unavailable information; basis.

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Sec. 6. If information disclosed in accordance with this act becomes inaccurate as a result of any action, occurrence, or agreement after the delivery of the required disclosures, the resulting inaccuracy does not constitute a violation of this act. If at the time the disclosures…

Mich. Comp. Laws § 565.957 Disclosure; form.

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Sec. 7. (1) The disclosures required by this act shall be made on the following form: SELLER'S DISCLOSURE STATEMENT Property Address: __________________________________________ Street _________________________________ Michigan City, Village, or Township Purpose of Statement: This…

Mich. Comp. Laws § 565.958 Availability of copies.

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Sec. 8. Copies of the form prescribed in section 7 shall be made available to the public by all real estate brokers and real estate salespersons.

Mich. Comp. Laws § 565.959 Additional disclosures.

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Sec. 9. A city, township, or county may require disclosures in addition to those disclosures required by section 7, and may require disclosures on a different disclosure form in connection with transactions subject to this act.

Mich. Comp. Laws § 565.960 Disclosure; good faith.

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Sec. 10. Each disclosure required by this act shall be made in good faith. For purposes of this act, "good faith" means honesty in fact in the conduct of the transaction.

Mich. Comp. Laws § 565.961 Other obligations created by law not limited.

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Sec. 11. The specification of items for disclosure in this act does not limit or abridge any obligation for disclosure created by any other provision of law regarding fraud, misrepresentation, or deceit in transfer transactions.

Mich. Comp. Laws § 565.962 Disclosure; amendment.

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Sec. 12. Any disclosure made pursuant to this act may be amended in writing by the transferor, but the amendment is subject to section 4.

Mich. Comp. Laws § 565.963 Disclosure; manner of delivery.

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Sec. 13. Delivery of a disclosure statement required by this act shall be by personal delivery, facsimile delivery, or by registered mail to the prospective purchaser. Execution of a facsimile counterpart of the disclosure statement shall be considered to be execution of the orig…

Mich. Comp. Laws § 565.964 Transfer not invalidated by noncompliance.

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Sec. 14. A transfer subject to this act shall not be invalidated solely because of the failure of any person to comply with a provision of this act.

Mich. Comp. Laws § 565.965 Liability of agent.

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Sec. 15. An agent of a transferor shall not be liable for any violation of this act by a transferor unless any agent knowingly acts in concert with a transferor to violate this act.

Mich. Comp. Laws § 565.966 Effective date.

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Sec. 16. This act shall take effect upon the expiration of 180 days after the date of its enactment.