Michigan Laws 207.851 – Lien
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 207.851
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- certificate: means the certificate issued under section 6. See Michigan Laws 207.842
- Commercial rehabilitation tax: means the specific tax levied under this act. See Michigan Laws 207.842
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Qualified facility: means a qualified retail food establishment or a building or group of contiguous buildings of commercial property that is 15 years old or older or has been allocated for a new markets tax credit under section 45D of the internal revenue code, 26 USC 45D. See Michigan Laws 207.842
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Rehabilitation: means changes to a qualified facility that are required to restore or modify the property, together with all appurtenances, to an economically efficient condition. See Michigan Laws 207.842
The amount of the tax applicable to real property, until paid, is a lien upon the real property to which the certificate is applicable. Proceedings upon the lien as provided by law for the foreclosure in the circuit court of mortgage liens upon real property may commence only upon the filing by the appropriate collecting officer of a certificate of nonpayment of the commercial rehabilitation tax applicable to real property, together with an affidavit of proof of service of the certificate of nonpayment upon the owner of the qualified facility by certified mail, with the register of deeds of the county in which the qualified facility is situated.