Michigan § 554.1014 - Applicability of act; scope; limitation.
Full text of Michigan Michigan Compiled Laws § 554.1014 — Applicability of act; scope; limitation., with citation guidance and answers to common questions.
§ 554.1014. Applicability of act; scope; limitation.
(1) Except as otherwise provided in subsection (2) or (3), this act applies to a receivership for an interest in any of the following commercial property:
(a) Real property, fixtures, and any personal property related to or used in operating the real property.
(b) Personal property.
(2) This act does not apply to a receivership for an interest in real property improved by 1 to 4 dwelling units unless 1 or more of the following applies:
(a) The interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental uses by an owner occupying the property as the owner's primary residence.
(b) The interest secures an obligation incurred at a time when the property was used or planned for use for agricultural, commercial, industrial, or mineral-extraction purposes.
(c) The owner planned or is planning to develop the property into 1 or more dwelling units to be sold or leased in the ordinary course of the owner's business.
(d) The owner is collecting or has the right to collect rents or other income from the property from a person other than an affiliate of the owner.
(3) This act does not apply to a receivership authorized by law of this state other than this act in which the receiver is a governmental unit or an individual acting in an official capacity on behalf of the unit except to the extent provided by the other law.
(4) This act does not limit the authority of a court to appoint a receiver under law of this state other than this act.
(5) Unless displaced by a particular provision of this act, the principles of law and equity supplement this act.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 554.1014
What does Michigan Compiled Laws § 554.1014 cover?
Section 554.1014 ("Applicability of act; scope; limitation.") 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 § 554.1014?
A common citation format is "Michigan Compiled Laws § 554.1014" (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 § 554.1014 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.