Sec. 2. Except for a residential window period loan, a lender may enforce a due-on-sale clause in a real property loan in accordance with the terms of the loan contract. A lender shall enforce a due-on-sale clause in a residential window period loan only in accordance with sections 3 to 5.
Mich. Comp. Laws § 445.1622
Enforcement of due-on-sale clause generally
Applied in 1 court decision — leading case 697 F. Supp. 1431 - Eyde Bros. Development v. Equitable Life Assurance Society of the United States (1988)
Most recently applied in 697 F. Supp. 1431 - Eyde Bros. Development v. Equitable Life Assurance Society of the United States (October 1988)
1984, Act 351, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.