Michigan § 554.61 Terminable interest, specified contingency; definitions.

Michigan Statutes

§ 554.61 — Terminable interest, specified contingency; definitions.

Michigan § 554.61

Ch. 554REAL AND PERSONAL PROPERTY

Act 13 of 1968POSSIBILITIES OF REVERTER AND RIGHTS OF ENTRY (554.61-554.65)

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Bluebook

Mich. Comp. Laws § 554.61 (2026).

Text

POSSIBILITIES OF REVERTER AND RIGHTS OF ENTRY (EXCERPT) Act 13 of 1968 554.61 Terminable interest, specified contingency; definitions. Sec. 1. As used in this act:

(a)"Terminable interest" is a possessory or ownership interest in real property which is subject to termination by a provision in a conveyance or other instrument which either creates a right of reversion to a grantor or his heirs, successors or assigns or creates a right of entry on the occurrence of a specified contingency.

(b)"Specified contingency" is the event described in a conveyance or other instrument creating a terminable interest, the occurrence of which requires or permits the divesting of the terminable interest.

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POSSIBILITIES OF REVERTER AND RIGHTS OF ENTRY (EXCERPT) Act 13 of 1968 554.61 Terminable interest, specified contingency; definitions. Sec. 1. As used in this act: (a) "Terminable interest" is a possessory or ownership interest in real property which is subject to termination by a provision in a conveyance or other instrument which either creates a right of reversion to a grantor or his heirs, successors or assigns or creates a right of entry on the occurrence of a specified contingency. (b) "Specified contingency" is the event described in a conveyance or other instrument creating a terminable interest, the occurrence of which requires or permits the divesting of the terminable interest.