Michigan § 487.3402 - Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect.
Full text of Michigan Michigan Compiled Laws § 487.3402 — Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect., with citation guidance and answers to common questions.
§ 487.3402. Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect.
A savings bank that makes a loan the proceeds of which are used or may be used by the borrower to finance the purchase, design, manufacture, construction, repair, modification, or improvement of real property shall not be liable for any defect in the real property purchased, designed, manufactured, constructed, repaired, modified, or improved or for any loss or damage resulting from the failure of the borrower or any agent or other person employed by the borrower to use due care in the examination, design, manufacture, construction, repair, modification, or improvement of the real property.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.3402
What does Michigan Compiled Laws § 487.3402 cover?
Section 487.3402 ("Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect.") 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 § 487.3402?
A common citation format is "Michigan Compiled Laws § 487.3402" (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 § 487.3402 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.