Alger County Assignment of Leases and Rents Form

Additional Michigan and Alger County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Alger County

Properties in any of these areas use Alger County forms:

• Au Train
• Chatham
• Deerton
• Eben Junction
• Grand Marais
• Munising
• Rumely
• Shingleton
• Trenary
• Wetmore

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Use this form to assign leases and rents to the lender as added security in the case of default.

554.231 Assignment of rents to accrue from leases as additional mortgage security.
Sec. 1.
Hereafter, in or in connection with any mortgage on commercial or industrial property other than an apartment building with less than 6 apartments or any family residence to secure notes, bonds or other fixed obligations, it shall be lawful to assign the rents, or any portion thereof, under any oral or written leases upon the mortgaged property to the mortgagee, as security in addition to the property described in such mortgage. Such assignment of rents shall be binding upon such assignor only in the event of default in the terms and conditions of said mortgage, and shall operate against and be binding upon the occupiers of the premises from the date of filing by the mortgagee in the office of the register of deeds for the county in which the property is located of a notice of default in the terms and conditions of the mortgage and service of a copy of such notice upon the occupiers of the mortgaged premises.

(Michigan AOR Package includes form, guidelines, and completed example)

Important: Your property must be located in Alger County to use these forms. Documents should be recorded at the county recording office listed above.

This Assignment of Leases and Rents meets all recording requirements specific to Alger County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Alger County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

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