Michigan § 339.2516 - Interest in real property; acquisition by licensee; proof of disclosures and consents.
Full text of Michigan Michigan Compiled Laws § 339.2516 — Interest in real property; acquisition by licensee; proof of disclosures and consents., with citation guidance and answers to common questions.
§ 339.2516. Interest in real property; acquisition by licensee; proof of disclosures and consents.
(1) If a licensee buys or otherwise acquires, directly or indirectly, an interest in real property, the licensee shall disclose to the owner of the property that the licensee is licensed under this part before the owner is asked to sign the purchase agreement.
(2) If a licensee acquires, directly or indirectly, an option to purchase real property from an owner that requested the licensee's services as a real estate licensee in connection with that property, the licensee shall disclose to the owner of the property that the licensee is licensed under this part before the owner is asked to sign the option agreement.
(3) A licensee that buys or otherwise acquires an interest in real property, directly or indirectly, and that is owed a commission, fee, or other valuable consideration as a result of the sale, shall disclose that the licensee is licensed under this part to the seller or owner to receive the specified consideration.
(4) On request of the department, a licensee shall provide written proof of any disclosures and consents required under this section to the department.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 339.2516
What does Michigan Compiled Laws § 339.2516 cover?
Section 339.2516 ("Interest in real property; acquisition by licensee; proof of disclosures and consents.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 339.2516?
A common citation format is "Michigan Compiled Laws § 339.2516" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 339.2516 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.