Mich. Comp. Laws § 570.581
Short title.
This act shall be known and may be cited as the "commercial real estate broker's lien act".
Michigan Compiled Laws — COMMERCIAL REAL ESTATE BROKER'S LIEN ACT (Act 201 of 2010)
Michigan · statute · 201 of 2010, Mich. Comp. Laws · 14 active provisions
Mich. Comp. Laws § 570.582
Definitions.
As used in this act: (a) "Buyer" means a purchaser or lessee of a legal or equitable interest in real estate. (b) "Claim of lien" means a claim of a commercial real estate broker's lien asserted under this act. (c) "Commercial real estate" means real estate or an interest in real estate that is not any of the following…
Mich. Comp. Laws § 570.583
Commercial real estate broker's lien; availability.
A commercial real estate broker's lien is only available to an individual licensed as a real estate broker under article 25 of the occupational code, 1980 PA 299, MCL 339.2501 to 339.2518. A commercial real estate broker's lien is not available to an employee, agent, subagent, or independent contractor of a licensed re…
Mich. Comp. Laws § 570.584
Lien; attachment; conditions; recording; time of filing; contents of claim; form; mailing; claim of lien as void and unenforceable; priority of prior-recorded lien or mortgage; "lease" defined.
(1) A commercial real estate broker's lien attaches to commercial real estate in favor of a real estate broker if all of the following circumstances exist: (a) The real estate broker has a written commission agreement. (b) The real estate broker is entitled to a commission under the written commission agreement. (c) Ex…
Mich. Comp. Laws § 570.585
Escrow account; establishment to satisfy lien; release.
(1) If a claim of lien recorded under section 4 would otherwise prevent the closing of a transaction involving commercial real estate, the parties to the transaction shall, subject to subsection (2), establish an escrow account from the proceeds of the transaction in an amount sufficient to satisfy the lien. A buyer or…
Mich. Comp. Laws § 570.586
Action to enforce lien; complaint.
(1) A person claiming a commercial real estate broker's lien may bring an action to enforce the lien in the circuit court for the county where the commercial real estate is located by filing a complaint and affidavit that the claim of lien has been recorded. (2) The plaintiff in an action under this section shall name…
Mich. Comp. Laws § 570.587
Commencement of action; time period.
(1) An action under section 6 shall be commenced within 1 year after the date the commercial real estate broker's lien attaches. (2) Failure to commence an action within the applicable time period under this section extinguishes the lien. A later claim of lien for the same commission or services shall not be made and s…
Mich. Comp. Laws § 570.588
Sale of interest in commercial real estate; court order; order of foreclosure; period of redemption; order of deficiency judgment; costs.
(1) If the court in an action under section 6 finds that the plaintiff is entitled to the commercial real estate lien and that the amount claimed has not been paid, the court may enter a judgment ordering the sale of any interest in the commercial real estate, or part of the commercial real estate, to which the lien at…
Mich. Comp. Laws § 570.589
Written demand on behalf of owner of commercial real estate; service.
A written demand on behalf of the owner of commercial real estate may be served on a person claiming a commercial real estate broker's lien, demanding that an action be commenced to enforce the lien or that an answer be filed in an action pending between the owner and the lien claimant. If the action is not commenced o…
Mich. Comp. Laws § 570.590
Condition prohibiting compensation; release of lien.
If a claim of lien has been recorded under this act and a condition occurs that prohibits the real estate broker from receiving compensation under the terms of the written agreement on which the claim is based, the real estate broker shall provide a release of lien under section 5 to the owner of record within 10 days…
Mich. Comp. Laws § 570.591
Payment of claim or failure to commence action; release of lien.
If a claim of lien recorded under this act has been paid, or if an action to enforce the lien has not been commenced within the time limitations of section 7, the real estate broker shall record a release of lien under section 5 within 5 days after a written demand by the owner of record or the owner's agent and provid…
Mich. Comp. Laws § 570.592
Partial payment of lien claim; partial satisfaction and release of lien; form.
(1) If a claim of lien recorded under this act has been partially paid, the real estate broker shall provide a partial satisfaction and release of lien in the form provided in subsection (2) within 5 days after written demand by the owner of record or the owner's agent. (2) A partial satisfaction and release of lien un…
Mich. Comp. Laws § 570.593
Priority of subsequently recorded mortgage; condition.
A subsequently recorded mortgage has priority over a commercial real estate broker's lien if the mortgagee did not have actual or constructive knowledge of the lien at the time the mortgagee advanced money under the mortgage.
Mich. Comp. Laws § 570.594
Written commission agreement signed after effective date of act; applicability.
This act applies to a written commission agreement signed after the effective date of this act.