Michigan Laws > Chapter 211 > Act 206 of 1893 > SALE, REDEMPTION AND CONVEYANCE OF DELINQUENT TAX LANDS
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Terms Used In Michigan Laws > Chapter 211 > Act 206 of 1893 > SALE, REDEMPTION AND CONVEYANCE OF DELINQUENT TAX LANDS
- Community foundation: means an organization that meets all of the following requirements:
(i) Has been in existence for at least 10 years. See Michigan Laws 123.903Component fund: means a component part of a community trust as described in 26 C. See Michigan Laws 123.903 Contract: A legal written agreement that becomes binding when signed. Deed: The legal instrument used to transfer title in real property from one person to another. Donor: The person who makes a gift. 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 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Intangible personal property: means incorporeal personal property including, but not limited to, cash, proceeds of the sale of real or personal property, deposits in banks or other financial institutions, negotiable instruments, mortgages, debts, receivables, shares of stock, bonds, notes, credits, evidences of an interest in property, evidences of debt, and choses in action generally. See Michigan Laws 123.903 Lien: A claim against real or personal property in satisfaction of a debt. 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 Municipality: means a city, village, township, county, or a subdivision or instrumentality of any of these entities. See Michigan Laws 123.903 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Personal property: All property that is not real property. Public library: means a board of education, library commission, or other public corporation empowered to maintain a public library. See Michigan Laws 123.903 state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o