Michigan Laws 339.2512b – Actions not constituting participation in real estate transaction or in payment of real estate commissions
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 339.2512b
- 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
- month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
The following actions do not constitute participation in a real estate transaction or in the payment of real estate commissions:
(a) As an owner or an authorized agent of the owner, offering an existing tenant of the owner’s property a consideration of a value of 1 month‘s rent or less for referring a prospective tenant to the owner or the authorized agent of the owner for the purpose of entering into a lease agreement.
(b) As an existing tenant of rental property, accepting a consideration of 1 month’s rent or less for the referral of prospective tenants.