Michigan Laws 570.1105 – Additional definitions
Current as of: 2023 | Check for updates
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(1) “Lessee” means a person, other than the owner, who holds an interest, other than a security interest, in real property.
(2) “Lien claimant” means a person having a right to a construction lien under this act.
Terms Used In Michigan Laws 570.1105
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(3) “Owner” means a person holding a fee interest in real property or an equitable interest arising out of a land contract.