MCL - Act 348 of 1990

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PRIORITY OF MORTGAGES

Act 348 of 1990

AN ACT to establish the priority of a mortgage that secures an indebtedness or other obligation that arises or is incurred after the mortgage has been recorded.


History: 1990, Act 348, Eff. Apr. 1, 1991




The People of the State of Michigan enact:
Document Type Description
Section 565.901 Section Definitions.
Section 565.902 Section Priority of future advance mortgage.
Section 565.903 Section Priority of recorded mortgage amended to become future advance mortgage.
Section 565.903a Section Priority of residential future advance mortgage.
Section 565.904 Section Priority of future advance mortgage over another interest in property recorded prior to April 1, 1991.
Section 565.905 Section Applicability of act.
Section 565.906 Section Effective date.