Consent to Sale or Transfer of Real Property Subject to Residential Window Period Loan Containing Due-on-Sale Clause.

  1. Law
  2. Michigan Compiled Laws
  3. Trade and Commerce
  4. 351 of 1984 - Due-on-Sale Clauses (445.1621 - 445.1629)
  5. Consent to Sale or Transfer of Real Property Subject to Residential Window Period Loan Containing Due-on-Sale Clause.

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Sec. 6a.

Nothing in this act shall be construed to prohibit a lender, either before or after making a determination of the creditworthiness of a proposed buyer or transferee, from consenting in writing to a sale or transfer of real property that is subject to a residential window period loan containing a due-on-sale clause.

History: Add. 1985, Act 136, Imd. Eff. Oct. 15, 1985


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