Michigan Statutes
§ 559.185 — Liquidated damages in case of default; actual damages; receipt of escrowed funds.
Michigan § 559.185
This text of Michigan § 559.185 (Liquidated damages in case of default; actual damages; receipt of escrowed funds.) 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 § 559.185 (2026).
Text
CONDOMINIUM ACT (EXCERPT) Act 59 of 1978 559.185 Liquidated damages in case of default; actual damages; receipt of escrowed funds. Sec.
85.A provision in a purchase agreement for liquidated damages in case of default shall be limited to a reasonable percentage of the purchase price of the condominium unit. This provision shall not prevent the developer from recovering actual damages. Such an agreement shall not permit the developer to receive escrowed funds until there is a default, or until conveyance of legal or equitable title to the purchaser.
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Legislative History
1978, Act 59, Eff. July 1, 1978 ;-- Am. 1982, Act 538, Imd. Eff. Jan. 17, 1983
Nearby Sections
15
§ 559.101
Short title.§ 559.102
Meanings of words and phrases.§ 559.103
Definitions; A to C.§ 559.104
Definitions; C.§ 559.105
Definitions; C.§ 559.106
Definitions; C to G.§ 559.107
Definitions; L to M.§ 559.108
“Master deed” defined.§ 559.109
Definitions; P.§ 559.110
Definitions; R to T.Cite This Page — Counsel Stack
Bluebook (online)
Michigan § 559.185, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/559/559.185.