Michigan Laws 570.587 – Commencement of action; time period
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Terms Used In Michigan Laws 570.587
- Claim of lien: means a claim of a commercial real estate broker's lien asserted under this act. See Michigan Laws 570.582
- Commercial real estate: means real estate or an interest in real estate that is not any of the following:
(i) Real estate zoned for single-family use and on which no building or structure is located. See Michigan Laws 570.582Lien: A claim against real or personal property in satisfaction of a debt.
(1) An action under section 6 shall be commenced within 1 year after the date the commercial real estate broker’s lien attaches.
(2) Failure to commence an action within the applicable time period under this section extinguishes the lien. A later claim of lien for the same commission or services shall not be made and shall not be the basis of an action filed under section 6.