Michigan § 492.113a - Installment sale transaction; certain payments by seller on behalf of buyer.
Full text of Michigan Michigan Compiled Laws § 492.113a — Installment sale transaction; certain payments by seller on behalf of buyer., with citation guidance and answers to common questions.
§ 492.113a. Installment sale transaction; certain payments by seller on behalf of buyer.
(1) A seller in an installment sale transaction may pay on behalf of the buyer and agree to finance in the installment sale contract all or part of the balance of any indebtedness secured by a motor vehicle that the seller takes in trade in the installment sale transaction or all or any part of the balance owed under a lease of a motor vehicle that is terminated in connection with the installment sale transaction.
(2) If subsection (1) applies in an installment sale transaction, then the other necessary or incidental costs included in the installment sale contract under section 13(2)(e) shall include the amount the seller agreed to finance under subsection (1).
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 492.113a
What does Michigan Compiled Laws § 492.113a cover?
Section 492.113a ("Installment sale transaction; certain payments by seller on behalf of buyer.") 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 § 492.113a?
A common citation format is "Michigan Compiled Laws § 492.113a" (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 § 492.113a 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.