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Act 348 of 1990
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Act 348 of 1990

AN ACT to establish the priority of a mortgage that secures an indebtedness or other obligation that arises or is incurred after the mortgage has been recorded.

History: 1990, Act 348, Eff. Apr. 1, 1991

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 565.901SectionDefinitions.
Section 565.902SectionPriority of future advance mortgage.
Section 565.903SectionPriority of recorded mortgage amended to become future advance mortgage.
Section 565.903aSectionPriority of residential future advance mortgage.
Section 565.904SectionPriority of future advance mortgage over another interest in property recorded prior to April 1, 1991.
Section 565.905SectionApplicability of act.
Section 565.906SectionEffective date.
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