January 19, 2010, Introduced by Rep. LeBlanc and referred to the Committee on Judiciary.
A bill to amend 1879 PA 237, entitled
"An act to provide for the execution, acknowledgment, and recording
of contracts for the sale of land,"
(MCL 565.351 to 565.361) by amending the title and by adding
section 4a.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
TITLE
An act to provide for the execution, acknowledgment, and
recording of contracts for the sale of land; to impose certain
requirements on contracts for the sale of land; and to provide for
land contract mortgages.
Sec. 4a. (1) If the real property subject to a land contract
is a single-family residence, the vendee named in the land contract
shall not rent or lease the residence to a third party unless the
terms of the land contract allow the residence to be rented or
leased.
(2) A violation of subsection (1) by a vendee named in the
land contract constitutes a default on the vendee's obligations
under the land contract.
(3) This section applies only to land contracts executed after
the effective date of this section.