Dodgeville Landlord-Tenant Lawyer, Michigan

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LEGAL TERMS

MONTH-TO-MONTH TENANCY

A rental agreement that provides for a one-month tenancy that is automatically renewed each month unless either tenant or landlord gives the other the proper am... (more...)
A rental agreement that provides for a one-month tenancy that is automatically renewed each month unless either tenant or landlord gives the other the proper amount of written notice (usually 30 days) to terminate the agreement. Some landlords prefer to use month-to-month tenancies because it gives them the right to raise the rent after giving proper notice. This type of rental also provides a landlord with an easy way to get rid of troublesome tenants, because in most states month-to-month tenancies can be terminated for any reason.

COOLING-OFF RULE

A rule that allows you to cancel a contract within a specified time period (typically three days) after signing it. Federal cooling-off rules apply this three-d... (more...)
A rule that allows you to cancel a contract within a specified time period (typically three days) after signing it. Federal cooling-off rules apply this three-day grace period to sales made door-to-door and anywhere other than a seller's normal place of business, such as at a trade show. Another federal cooling-off rule lets you cancel a home improvement loan or second mortgage within three days of signing. Various states have cooling-off rules that sometimes apply even longer cancellation periods to specific types of sales, such as dancing lessons and timeshares.

INDISPENSABLE PARTY

A person or entity (such as a corporation) that must be included in a lawsuit in order for the court to render a final judgment that will be just to everyone co... (more...)
A person or entity (such as a corporation) that must be included in a lawsuit in order for the court to render a final judgment that will be just to everyone concerned. For example, if a person sues his neighbors to force them to prune a tree that poses a danger to his house, he must name all owners of the neighboring property in the suit.

NONDISCLOSURE AGREEMENT

A legally binding contract in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper a... (more...)
A legally binding contract in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper authorization. Nondisclosure agreements are often used when a business discloses a trade secret to another person or business for such purposes as development, marketing, evaluation or securing financial backing. Although nondisclosure agreements are usually in the form of written contracts, they may also be implied if the context of a business relationship suggests that the parties intended to make an agreement. For example, a business that conducts patent searches for inventors is expected to keep information about the invention secret, even if no written agreement is signed, because the nature of the business is to deal in confidential information.

PRIVATE MORTGAGE INSURANCE (PMI)

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortga... (more...)
Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortgage plus the costs of the sale). A home buyer who makes less than a 20% down payment may have to purchase PMI.

INCAPACITY

(1) A lack of physical or mental abilities that results in a person's inability to manage his or her own personal care, property or finances. (2) A lack of abil... (more...)
(1) A lack of physical or mental abilities that results in a person's inability to manage his or her own personal care, property or finances. (2) A lack of ability to understand one's actions when making a will or other legal document. (3) The inability of an injured worker to perform his or her job. This may qualify the worker for disability benefits or workers' compensation.

ESTATE

Generally, all the property you own when you die.

BALLOON PAYMENT

A large final payment due at the end of a loan, typically a home or car loan, to pay off the amount your monthly payments didn't cover. Many states prohibit bal... (more...)
A large final payment due at the end of a loan, typically a home or car loan, to pay off the amount your monthly payments didn't cover. Many states prohibit balloon payments in loans for goods or services that are primarily for personal, family or household use, or require the lender to let you refinance the balloon payment before forcing collection.

NOVATION

The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original... (more...)
The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original parties.

SAMPLE LEGAL CASES

Allison v. AEW CAPITAL MANAGEMENT, LLP

... MCL 554.139 does not define the term "common areas." However, Black's Law Dictionary (6th ed), p 275, defines "common area" as: "[i]n law of landlord-tenant, the portion of demised premises used in common by tenants over which landlord retains control (eg hallways, stairs ...

In re Smith Trust

... Paragraph 15 of the lease contained the following right of first refusal: Landlord hereby grants to Tenant the option to purchase the leased premises upon the following terms: ... Landlord hereby grants to Tenant the option to purchase the leased premises upon the following terms: ...

Dawe v. DR. REUVEN BAR-LEVAV & ASSOCIATES

... [3] This Court has determined that a "special relationship" exists in a variety of situations. For example, this Court has classified the common carrier-passenger, innkeeper-guest, landlord-tenant, employer-employee, and doctor-patient relationships as special relationships. ...