§ 570.592 — Partial payment of lien claim; partial satisfaction and release of lien; form.

Michigan § 570.592

• Jurisdiction: Michigan
• Ch. 570: LIENS
• Act 201 of 2010: COMMERCIAL REAL ESTATE BROKER'S LIEN ACT (570.581-570.594)

Text

COMMERCIAL REAL ESTATE BROKER'S LIEN ACT (EXCERPT) Act 201 of 2010 570.592 Partial payment of lien claim; partial satisfaction and release of lien; form. Sec. 12. (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 under this section shall meet the requirements of 1937 PA 103, MCL 565.201 to 565.203, and be in substantially the following form: PARTIAL SATISFACTION AND RELEASE OF LIEN The claimant named below is the claimant under a claim of commercial real estate broker's lien recorded on ____________ [date] in the office of the register of deeds of _______________ County, Michigan, at Liber _________, Page _________ on the following described property: [Legal description] The claimant has been paid $_____________, a portion of the amount of the lien. The remaining amount of the lien is $______. Therefore, the claimant, for and in consideration of the payment, waives, to the extent of the payment, the claim of or right to a lien under the commercial real estate broker's lien act against the property described above, the building or buildings on the property, and the tenant spaces in the building or buildings. [Name of Claimant] By:________________________ Its Authorized Agent Signed and sworn to before me in ____________ County, Michigan, on ________________, ______[year]. _______________________________ [Notary's name, county, acting in county, state, and date commission expires] Prepared By: Return To:

Legislative History

2010, Act 201 , Imd. Eff. Oct. 5, 2010