125.525 Registry of owners and premises; transfer of ownership.

312 words·~1 min read·/mi/chapter-125/125-525

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Sec. 125.

(1)The enforcing agency may maintain a registry of owners and premises regulated by this act.

(2)If the enforcing agency maintains a registry of owners and premises, the owner of a multiple dwelling or rooming house containing units that will be offered to let, or to hire, for more than 6 months of a calendar year shall register with the enforcing agency the owner's name, the address of the owner's residence or usual place of business, and the location of the multiple dwelling or rooming house. The owner shall register within 60 days following the day on which any part of the premises is offered for occupancy.

(3)If the premises are managed or operated by an agent, the agent's name and place of business must be entered with the name of the owner in the registry under subsection (2).

(4)A transfer of ownership to another person is not a change of ownership for purposes of this act if the owner, owners, trustors, grantors, or members of the transferring person are the same as the owner, owners, trustees, grantees, or members of the recipient person, or both the transferring person and recipient person are under common control, and the property being transferred was inspected in accordance with this act during the 2-year period immediately preceding the date of that transfer or a longer period if previously determined by a local municipality inspection ordinance. As used in this subsection, "person" means an individual or a corporation, limited liability company, partnership, limited partnership, limited liability partnership, limited liability limited partnership, trust, individual retirement account, or other legal person recognized in this state.

History: Add. 1968, Act 286, Eff. Nov. 15, 1968 ;-- Am. 2016, Act 14 , Eff. May 16, 2016 ;-- Am. 2021, Act 14 , Eff. Aug. 17, 2021