Michigan · statute · 34 of 2011, Mich. Comp. Laws · 4 active provisions
As used in this act: (a) "Transfer fee" means a fee or charge payable upon the subsequent sale, gift, conveyance, assignment, inheritance, or other transfer of an ownership interest in nonresidential real property located in this state, or payable for the right to make or accept such a transfer, regardless of whether t…
A transfer fee covenant that is executed on or after the effective date of this section, whether or not recorded, does not run with the title to real property and is not binding on or enforceable against any subsequent owner, purchaser, or mortgagee of any interest in the real property as an equitable servitude or othe…
Any lien purporting to secure the payment of a transfer fee under a transfer fee covenant that is executed on or after the effective date of this section is void.
(1) Any person aggrieved by the imposition of a transfer fee, whether the original or subsequent transferee or purchaser, may bring an action to clear the title and void the transfer fee and for other equitable relief. (2) In a successful action brought under subsection (1), the court may award actual reasonable attorn…