Friday, December 15, 2023

Chain of Title; Divestment of Interest

Bankruptcy Attorney Ann Arbor

Under the Michigan Marketable Record Title Act, to possess a marketable record title to an interest in land, a person must have held an unbroken chain of title of record for 20 years for mineral interests and 40 years for other interests. The marketable record title is subject only to claims to that interest and defects of title that are not extinguished or barred by application of the Act, as well as any interests and defects in records forming the chain of record title that are recorded during the 20-year period for mineral interests or the 40-year period for other interests. Unbroken chain of title exists if either:

-       A conveyance or other title transaction not less than 20 years in the past for mineral interests and 40 years for other interests, that purports to create the interest in that person, with nothing appearing of record purporting to divest that person of that interest.

-       A conveyance or other title transaction within the past 20 years for mineral interests and 40 years for other interests, that purports to create the interest in some other person and other conveyances of title transactions of record by which the purported interest has become vested in the person considered to have an unbroken chain of title, with nothing appearing of record purporting to divest the person of the interest. 

 

Learn more about the Michigan Marketable Record Title Act here.


Get Started Today: Schedule Your Consultation!


If you would like to learn more about the Michigan Marketable Record Title Actcontact a bankruptcy attorney in Ann Arbor today! Our bankruptcy attorney at Pear Sperling Eggan & Daniels, P.C., can help assist you with your case and everything in between. 

Friday, December 1, 2023

What is the Michigan Marketable Record Title Act?

Bankruptcy Attorney Ann Arbor

Like many States, Michigan has implemented the Marketable Record Title Act (MRTA), MCL 565.101 et seq., with the goal of determining ownership interests in land by limiting the number of years during which claims like liens or land use restrictions may be asserted. This means that if an interest in land is not asserted during a specified period of time, it will be lost or extinguished by law. The Marketable Record Title Act (MRTA), Public Act 572 of 2018 amended Public Act 200 of 1945, and it applies to and defines a marketable record title to interests in land. Under the Act, these interests appear to include:
 

-       Building and Use Restrictions created in deeds, plats, condominium master deeds, and other recorded documents, including all amendments.

-       Easements that have not been improved or visibly used.

 

Learn more about the Michigan Marketable Record Title Act here.


Get Started Today: Schedule Your Consultation!


If you would like to learn more about the Michigan Marketable Record Title Actcontact a bankruptcy attorney in Ann Arbor today! Our bankruptcy attorney at Pear Sperling Eggan & Daniels, P.C., can help assist you with your case and everything in between.