(i) With respect to an individual, any of the following:

  (A) A companion of the individual. See Michigan Laws 554.1012

Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

Companion: means any of the following:

  (i) The spouse of an individual. See Michigan Laws 554.1012

Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.

Contract: A legal written agreement that becomes binding when signed.

Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

Court: means the circuit court. See Michigan Laws 554.1012

Court rules: means the rules adopted by the supreme court under section 5 of article VI of the state constitution of 1963, including the most recent amendments. See Michigan Laws 554.1012

Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.

Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}

Executory contract: means a contract, including a lease, under which each party has an unperformed obligation and the failure of a party to complete performance would constitute a material breach. See Michigan Laws 554.1012

Fiduciary: A trustee, executor, or administrator.

Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}

Governmental unit: means an office, department, division, bureau, board, commission, or other agency of this state or a subdivision of this state. See Michigan Laws 554.1012

Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.

Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Lien: A claim against real or personal property in satisfaction of a debt.

Lien: means an interest in property that secures payment or performance of an obligation. See Michigan Laws 554.1012

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Mortgage: means a record, however denominated, that creates or provides for a consensual lien on real property or rents, even if it also creates or provides for a lien on personal property. See Michigan Laws 554.1012

Mortgagee: The person to whom property is mortgaged and who has loaned the money.

Mortgagee: means a person entitled to enforce an obligation secured by a mortgage. See Michigan Laws 554.1012

Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.

Mortgagor: means a person that grants a mortgage or a successor in ownership of the real property described in the mortgage. See Michigan Laws 554.1012

Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

Owner: means the person for whose property a receiver is appointed. See Michigan Laws 554.1012

Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Michigan Laws 554.1012

Personal property: All property that is not real property.

Proceeds: means any of the following property:

  (i) Whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property. See Michigan Laws 554.1012

Property: means all of a person's right, title, and interest, both legal and equitable, in real property, personal property, and fixtures tangible and intangible, wherever located and however acquired. See Michigan Laws 554.1012

Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this act or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Michigan Laws 554.1012

Receivership: means a proceeding in which a receiver is appointed. See Michigan Laws 554.1012

Receivership property: means the property of an owner that is described in the order appointing a receiver or a subsequent order. See Michigan Laws 554.1012

Rents: means all of the following:

  (i) Sums payable for the right to possess or occupy, or for the actual possession or occupation of, real or personal property of another person. See Michigan Laws 554.1012

Secured obligation: means an obligation the payment or performance of which is secured by a security agreement. See Michigan Laws 554.1012

Secured party: means a person entitled to enforce a secured obligation or lien. See Michigan Laws 554.1012

Security agreement: means an agreement that creates or provides for a lien, including a mortgage. See Michigan Laws 554.1012

State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 554.1012

Subpoena: A command to a witness to appear and give testimony.

Trustee: A person or institution holding and administering property in trust.

Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}

United States: shall be construed to include the district and territories. See Michigan Laws 8.3o