Contact Us

New Law Assists Property Owners, Renters

Drew Tolson, Flickr

A new law recently signed by Governor Rick Snyder protects both property owners and renters.

House Bill 5892 amends the Rental-Purchase Agreement Act to assist both lessors and lessees of property. Lessees who are temporarily unable to make payments and surrender the property in a timely fashion will now have 90 days, tather than one month or less, to make the payments required to reinstate a rental-purchase agreement without losing any rights or options.

Lessors will now be able to require that property be returned seven days after a lessee misses a payment, instead of having to wait nearly a month. The law also clarifies what types of fees may be charged in these situations.

A second bill has also been signed by the governor. Senate Bill 264 amends the Use Tax Act and the General Sales Tax Act to revise the calculation of the monthly payment required of taxpayers that are subject to an accelerated payment schedule, beginning Jan. 1, 2014.

For more detailed information on the legislation, visit: www.legislature.mi.gov.

More from WFNT

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wfnt.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on Flint's News Talk quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Please solve this simple math problem to prove that you are a real person.

Register on Flint's News Talk quickly by logging in with your Facebook account. It's just as secure, and no password to remember!