Michigan Laws 324.50705 – Conveyance to provide for use of property; termination of lease
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 324.50705
- 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
The conveyance authorized by this part shall provide that the property be used exclusively for the purposes set forth in section 50702(1), and that termination of either or both of those purposes or the use of the property for any other purpose constitutes grounds for termination of the lease.