Michigan § 554.74 Reforming disposition; petition.

Michigan Statutes

§ 554.74 — Reforming disposition; petition.

Michigan § 554.74

Ch. 554REAL AND PERSONAL PROPERTY

Act 418 of 1988UNIFORM STATUTORY RULE AGAINST PERPETUITIES (554.71-554.78)

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Bluebook

Mich. Comp. Laws § 554.74 (2026).

Text

UNIFORM STATUTORY RULE AGAINST PERPETUITIES (EXCERPT) Act 418 of 1988 554.74 Reforming disposition; petition. Sec. 4. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution that is within the 90 years allowed by section 2(1)(b), (2)(b), or (3)(b) and 1 or more of the following are applicable:

(a)A nonvested property interest or a power of appointment becomes invalid under section 2.

(b)A class gift is not but might become invalid under section 2 and the time has arrived when the share of any class member is to take effect in possession or enjoyment.

(c)A nonvested property interest that is not validated by section 2(1)(a) can vest but not within 90 years after its creatio

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UNIFORM STATUTORY RULE AGAINST PERPETUITIES (EXCERPT) Act 418 of 1988 554.74 Reforming disposition; petition. Sec. 4. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution that is within the 90 years allowed by section 2(1)(b), (2)(b), or (3)(b) and 1 or more of the following are applicable: (a) A nonvested property interest or a power of appointment becomes invalid under section 2. (b) A class gift is not but might become invalid under section 2 and the time has arrived when the share of any class member is to take effect in possession or enjoyment. (c) A nonvested property interest that is not validated by section 2(1)(a) can vest but not within 90 years after its creation.