Michigan § 554.1061 Effect of enforcement of assignments of rent.

Michigan Statutes

§ 554.1061 — Effect of enforcement of assignments of rent.

Michigan § 554.1061

Ch. 554REAL AND PERSONAL PROPERTY

Act 115 of 2022MICHIGAN UNIFORM ASSIGNMENT OF RENTS ACT (554.1051-554.1070)

This text of Michigan § 554.1061 (Effect of enforcement of assignments of rent.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 554.1061 (2026).

Text

MICHIGAN UNIFORM ASSIGNMENT OF RENTS ACT (EXCERPT) Act 115 of 2022 554.1061 Effect of enforcement of assignments of rent. Sec. 11. The enforcement of an assignment of rents by 1 or more of the methods identified in sections 7, 8, and 9, the application of proceeds by the assignee under section 12 after enforcement, the payment of expenses under section 13, or an action under section 14(4) does not do any of the following:

(a)Make the assignee a mortgagee in possession of the real property.

(b)Make the assignee an agent of the assignor.

(c)Constitute an election of remedies that precludes a later action to enforce the secured obligation or the security instrument.

(d)Make the secured obligation or the security instrument unenforceable.

(e)Limit any right available to the assignee with

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MICHIGAN UNIFORM ASSIGNMENT OF RENTS ACT (EXCERPT) Act 115 of 2022 554.1061 Effect of enforcement of assignments of rent. Sec. 11. The enforcement of an assignment of rents by 1 or more of the methods identified in sections 7, 8, and 9, the application of proceeds by the assignee under section 12 after enforcement, the payment of expenses under section 13, or an action under section 14(4) does not do any of the following: (a) Make the assignee a mortgagee in possession of the real property. (b) Make the assignee an agent of the assignor. (c) Constitute an election of remedies that precludes a later action to enforce the secured obligation or the security instrument. (d) Make the secured obligation or the security instrument unenforceable. (e) Limit any right available to the assignee with respect to the secured obligation.