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Michigan · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 MichiganIn Michigan, LARA administers and enforces the Occupational Code provisions governing real estate licensees, investigating complaints of fraud, misrepresentation, commingling, and other dishonest conduct. Disciplinary sanctions range from censure and fines to suspension or revocation of a license, and a licensee is entitled to notice and a hearing before final action. Michigan also maintains a Real Estate Recovery Fund that can compensate consumers holding unsatisfied court judgments arising from a licensee's fraud or conversion, subject to statutory caps. A licensee whose misconduct results in a fund payout may have the license suspended until the fund is reimbursed.
Yes. State License Law is a scored domain on the Michigan real estate licensing exam, and this topic appears in the state license-law portion.
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Michigan applies its own license law on top of the national portion. This page covers the Michigan rules specifically, which is what the state section of your exam tests.