Sec. 12. (1) If a claim of lien recorded under this act has been partially paid, the real estate broker shall provide a partial satisfaction and release of lien in the form provided in subsection (2) within 5 days after written demand by the owner of record or the owner's agent. (2) A partial satisfaction and release of lien under this section shall meet the requirements of 1937 PA 103, MCL 565.201 to 565.203, and be in substantially the following form: PARTIAL SATISFACTION AND RELEASE OF LIEN The claimant named below is the claimant under a claim of commercial real estate broker's lien recorded on ____________ [date] in the office of the register of deeds of _______________ County, Michigan, at Liber _________, Page _________ on the following described property: [Legal description] The claimant has been paid $_____________, a portion of the amount of the lien. The remaining amount of the lien is $______. Therefore, the claimant, for and in consideration of the payment, waives, to the extent of the payment, the claim of or right to a lien under the commercial real estate broker's lien act against the property described above, the building or buildings on the property, and the tenant spaces in the building or buildings. [Name of Claimant] By:________________________ Its Authorized Agent Signed and sworn to before me in ____________ County, Michigan, on ________________, ______[year]. _______________________________ [Notary's name, county, acting in county, state, and date commission expires] Prepared By: Return To: History: 2010, Act 201, Imd. Eff. Oct. 5, 2010
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