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Section 440.2907 Creditor of Lessee; Rights; Taking Leasehold Interest Subject to Security Interest.

MI Comp L § 440.2907 (2019) (N/A)
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Sec. 2A307.

(1) Except as otherwise provided in section 2A306, a creditor of a lessee takes subject to the lease contract.

(2) Except as otherwise provided in subsection (3) and in sections 2A306 and 2A308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

(3) Except as otherwise provided in sections 9317, 9321, and 9323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

History: Add. 1992, Act 101, Eff. Sept. 30, 1992 ;-- Am. 2000, Act 348, Eff. July 1, 2001

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Section 440.2906 Materials or Services Provided With Respect to Goods Subject to Lease Contract; Lien; Priority; Exception.
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Section 440.2908 Creditor of Lessor or Seller; Lease or Sale Contract Treated as Void; Fraudulent Retention or Possession of Goods; Security for Preexisting Claim.