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Code · Michigan · Chapter 445 — Trade and Commerce

445.1626a Consent to sale or transfer of real property subject to residential window period loan containing due-on-sale clause.

82 words·~1 min read·/mi/chapter-445/445-1626a

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445.1626a Consent to sale or transfer of real property subject to residential window period loan containing due-on-sale clause.
Sec. 6a.
Nothing in this act shall be construed to prohibit a lender, either before or after making a determination of the creditworthiness of a proposed buyer or transferee, from consenting in writing to a sale or transfer of real property that is subject to a residential window period loan containing a due-on-sale clause.
History: Add. 1985, Act 136, Imd. Eff. Oct. 15, 1985
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