Mich. Comp. Laws § 565.902

Priority of future advance mortgage.

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PRIORITY OF MORTGAGES

Act 348 of 1990

565.902 Priority of future advance mortgage.

Sec. 2.

Except as otherwise provided by this act, a future advance mortgage securing a future advance shall have priority with respect to the future advance as if the future advance was made at the time the future advance mortgage was recorded.

History: 1990, Act 348, Eff. Apr. 1, 1991 ;-- Am. 1992, Act 35, Eff. July 1, 1992

Notes of Decisions

Cited in 2 cases, 2006–2020 · leading case: DEUTSCHE BANK TRUST COMPANY AMERICAS v. Spot Realty, Inc.

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DEUTSCHE BANK TRUST COMPANY AMERICAS v. Spot Realty, Inc. (2006) michctapp “Pursuant to MCL 565.902, the priority of all advances made in connection with a future advance mortgage relates back to the date the mortgage was recorded.”

James Akouri v. Comerica Bank (2020) michctapp “10 In response to the foreclosure proceeding, plaintiffs filed a complaint for injunctive and declaratory relief, an emergency motion for a temporary restraining order, and a motion to show cause why a preliminary injunction should not be entered.”

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