Michigan § 445.1403 - Payment in full; acknowledgment, release of collateral.
Full text of Michigan Michigan Compiled Laws § 445.1403 — Payment in full; acknowledgment, release of collateral., with citation guidance and answers to common questions.
§ 445.1403. Payment in full; acknowledgment, release of collateral.
After the payment of all sums for which the buyer is obligated under a home improvement installment contract and upon demand made by the buyer, the holder shall deliver, or mail to the buyer at his last known address, such 1 or more good and sufficient instruments as may be necessary to acknowledge payment in full and to release all collateral.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 445.1403
What does Michigan Compiled Laws § 445.1403 cover?
Section 445.1403 ("Payment in full; acknowledgment, release of collateral.") 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 § 445.1403?
A common citation format is "Michigan Compiled Laws § 445.1403" (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 § 445.1403 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.