reglab/housing_qa huggingface dataset:
MI Comp L § 700.1303 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1303 - Concurrent Jurisdiction; Removal; Purpose and Policy.

700.1303 Concurrent jurisdiction; removal; purpose and policy.Sec. 1303.  (1) In addition to the jurisdiction conferred by section 1302 and other laws, the court has concurrent legal and equitable jurisdiction to do all of the following in regard to an estate of a decedent, protected individual, ward, or trust:  (a) Determine a property right or interest.  (b) Authorize partition of property.  (c) Authorize or compel specific performance of a contract in a joint or mutual will or of a contract to leave property by will.  (d) Ascertain if individuals have survived as provided in this act.  (e) Determine cy pres or a gift, grant, bequest, or devise in trust or otherwise as provided in 1915 PA 280, MCL 554.351 to 554.353.  (f) Hear and decide an action or proceeding against a distributee of a fiduciary of the estate to enforce liability that arises because the estate was liable upon some claim or demand before distribution of the estate.  (g) Impose a constructive trust.  (h) Hear and decide a claim by or against a fiduciary or trustee for the return of property.  (i) Hear and decide a contract proceeding or action by or against an estate, trust, or ward.  (j) Require, hear, or settle an accounting of an agent under a power of attorney.  (2) If the probate court has concurrent jurisdiction of an action or proceeding that is pending in another court, on the motion of a party to the action or proceeding and after a finding and order on the jurisdictional issue, the other court may order removal of the action or proceeding to the probate court. If the action or proceeding is removed to the probate court, the other court shall forward to the probate court the original of all papers in the action or proceeding. After that transfer, the other court shall not hear the action or proceeding.   (3) The underlying purpose and policy of this section is to simplify the disposition of an action or proceeding involving a decedent's, a protected individual's, a ward's, or a trust estate by consolidating the probate and other related actions or proceedings in the probate court. History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2000, Act 54, Eff. Apr. 1, 2000 ;-- Am. 2016, Act 287, Eff. Dec. 26, 2016 ;-- Am. 2016, Act 490, Eff. Apr. 6, 2017 Popular Name: EPIC
MI Comp L § 700.1304 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1304 - Register; Powers.

700.1304 Register; powers. Sec. 1304.  If this act specifies that the probate register perform an act or order, the probate judge, or the probate register or a deputy probate register if authorized in accordance with section 834 of the revised judicature act of 1961, being section 600.834 of the Michigan Compiled Laws, or in accordance with supreme court rule, may perform the act or order. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1305 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1305 - Appeals.

700.1305 Appeals. Sec. 1305.  Appellate review, including the right to appellate review or interlocutory appeal and provisions as to time, manner, notice, appeal bond, stays, scope of review, record on appeal, briefs, arguments, and the power of the appellate court, is governed by the revised judicature act of 1961 and by supreme court rule. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1306 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1306 - Oath or Affirmation on Filed Documents.

700.1306 Oath or affirmation on filed documents. Sec. 1306.  Except as otherwise specifically provided in this act or by supreme court rule, a document, including an application, petition, or demand for notice, filed with the court under this act is considered to include an oath, affirmation, or statement to the effect that the document's representations are true as far as the individual executing or filing the document knows or is informed, and penalties for perjury may follow deliberate falsification in the document. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1307 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1307 - Records and Certified Copies.

700.1307 Records and certified copies. Sec. 1307.  (1) Court records shall be maintained in accordance with section 832 of the revised judicature act of 1961, being section 600.832 of the Michigan Compiled Laws. Upon payment of the fee required by law, the probate register shall issue a certified copy of a probated will, letters issued to a personal representative, or any other record or paper filed or recorded. A certificate that relates to a probated will shall indicate whether the decedent was domiciled in this state and whether the probate was formal or informal. A certificate that relates to letters shall show the date of appointment and the date to which the letters continued in force.  (2) A certified copy of letters of authority may be recorded in the office of the register of deeds for the county in which a written instrument that is executed by a person under authority of the letters is recorded. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1308 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1308 - Breach of Duty; Remedies; Order for Accounting.

700.1308 Breach of duty; remedies; order for accounting.Sec. 1308.  (1) A violation by a fiduciary of a duty the fiduciary owes to an heir, devisee, beneficiary, protected individual, or ward for whom the person is a fiduciary is a breach of duty. To remedy a breach of duty that has occurred or may occur, the court may do any of the following:  (a) Compel the fiduciary to perform the fiduciary's duties.  (b) Enjoin the fiduciary from committing a breach of duty.  (c) Compel the fiduciary to redress a breach of duty by paying money, restoring property, or other means.  (d) Order a fiduciary to account.  (e) Appoint a special fiduciary to take possession of the estate's, ward's, protected individual's, or trust property and administer the property.  (f) Suspend the fiduciary.  (g) Remove the fiduciary as provided in this act.  (h) For a fiduciary otherwise entitled to compensation, reduce or deny compensation to the fiduciary.  (i) Subject to other provisions of this act protecting persons dealing with a fiduciary, void an act of the fiduciary, impose a lien or a constructive trust on property, or trace property wrongfully disposed of and recover the property or its proceeds.  (2) In response to an interested person's petition or on its own motion, the court may at any time order a fiduciary of an estate under its jurisdiction to file an accounting. After due hearing on the accounting, the court shall enter an order that agrees with the law and the facts of the case. History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.1309 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-3 - Part 3 Scope, Jurisdiction, and Courts (700.1301...700.1309)|Section 700.1309 - Appointment of Special Fiduciary or Injunction.

700.1309 Appointment of special fiduciary or injunction. Sec. 1309.  Upon reliable information received from an interested person, county or state official, or other informed source, including the court's files, the court may enter an order in a proceeding to do either or both of the following:  (a) Appoint a special fiduciary to perform specified duties.  (b) Enjoin a person subject to the court's jurisdiction from conduct that presents an immediate risk of waste, unnecessary dissipation of an estate's or trust's property, or jeopardy to an interested person's interest. Under this subdivision, the court shall not enjoin a respondent in a proceeding to appoint a guardian or conservator or enjoin a ward or protected individual. An enjoined person shall be given a prompt hearing, if requested, to show cause why the order should be terminated. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1401 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-4 - Part 4 Notice, Parties, and Representation in Estate Litigation and Other Matters (700.1401...700.1403)|Section 700.1401 - Notice; Method and Time of Giving.

700.1401 Notice; method and time of giving. Sec. 1401.  (1) If notice of a hearing on a petition is required and except for specific notice requirements as otherwise provided by supreme court rule, the petitioner shall cause notice of the time and place of the hearing on the petition to be given to each interested person or the person's attorney if the person has appeared by attorney or requested that notice be sent to the person's attorney. Unless otherwise provided by supreme court rule, notice must be given by 1 of the following methods:  (a) Mailing a copy at least 14 days before the time set for the hearing by certified, registered, or first-class mail addressed to the person being notified at the post office address given in the person's demand for notice, if any, or at the person's office or place of residence, if known.  (b) Delivering a copy to the person being notified personally at least 7 days before the time set for the hearing.  (c) If the address or identity of the person is not known and cannot be ascertained with reasonable diligence, publishing once a copy in a newspaper having general circulation in the county where the hearing is to be held at least 14 days before the time set for the hearing.  (2) The court for good cause shown may provide for a different method or time of giving notice for a hearing.  (3) Proof that notice was given must be made at or before the hearing and filed in the proceeding.  (4) If a person entitled to notice under section 3306, 3310, 3403, 3414, 3705, or 5426 is a resident in and a citizen of a foreign country, the person required to give notice must notify the consul of the foreign nation in the city of New York or of the district having jurisdiction, or the consul, vice-consul, or consular agent resident in this state, if there is one, of the matters and with the particulars described in the relevant section of this act. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1402 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-4 - Part 4 Notice, Parties, and Representation in Estate Litigation and Other Matters (700.1401...700.1403)|Section 700.1402 - Notice; Waiver; Order.

700.1402 Notice; waiver; order. Sec. 1402.  (1) Except as provided in subsection (2), a person, including a guardian ad litem, conservator, or other fiduciary, may waive notice and consent to the granting of a petition by a writing signed by the person or the person's attorney and filed in the proceeding. If every person affected by the proceeding waives notice and consents in writing to the granting of a petition, the court may enter an appropriate order on the petition without a hearing.  (2) A person for whom a guardianship or other protective order is sought, a ward, or a protected person cannot waive notice. A fiduciary shall not waive or consent on a petition, account, or report made as the fiduciary or in a different fiduciary capacity. History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2000, Act 54, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1501 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1501 - Short Title of Part; Definitions.

700.1501 Short title of part; definitions. Sec. 1501.  (1) This part shall be known and may be cited as the "Michigan prudent investor rule". This part prescribes the Michigan prudent investor rule.  (2) As used in this part:  (a) "Governing instrument" includes, but is not limited to, a court order.  (b) "Portfolio" means all property of every kind and character held by a fiduciary on behalf of a fiduciary estate. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1502 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1502 - Prudent Investor Rule.

700.1502 Prudent investor rule. Sec. 1502.  (1) A fiduciary shall invest and manage assets held in a fiduciary capacity as a prudent investor would, taking into account the purposes, terms, distribution requirements expressed in the governing instrument, and other circumstances of the fiduciary estate. To satisfy this standard, the fiduciary must exercise reasonable care, skill, and caution.  (2) The Michigan prudent investor rule is a default rule that may be expanded, restricted, eliminated, or otherwise altered by the provisions of the governing instrument. A fiduciary is not liable to a beneficiary to the extent that the fiduciary acted in reasonable reliance on the provisions of the governing instrument. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1503 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1503 - Portfolio Strategy; Risk and Return Objectives.

700.1503 Portfolio strategy; risk and return objectives. Sec. 1503.  (1) A fiduciary's investment and management decisions with respect to individual assets shall be evaluated not in isolation, but rather in the context of the fiduciary estate portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fiduciary estate.  (2) Among circumstances that a fiduciary must consider in investing and managing fiduciary assets are all of the following that are relevant to the fiduciary estate or its beneficiaries:  (a) General economic conditions.  (b) The possible effect of inflation or deflation.  (c) The expected tax consequences of an investment decision or strategy.  (d) The role that each investment or course of action plays within the overall portfolio, which may include financial assets, interests in closely-held enterprises, tangible and intangible personal property, and real property.  (e) The expected total return from income and the appreciation of capital.  (f) Other resources of the beneficiaries.  (g) The need for liquidity, regularity of income, and preservation or appreciation of capital.  (h) An asset's special relationship or special value, if any, to the purposes of the fiduciary estate or to 1 or more of the beneficiaries.  (3) A fiduciary shall make a reasonable effort to verify facts relevant to the investment and management of fiduciary assets.  (4) A fiduciary may invest in any kind of property or type of investment consistent with the standards of the Michigan prudent investor rule. A particular investment is not inherently prudent or imprudent.  (5) A fiduciary who has special skill or expertise, or is named fiduciary in reliance upon the fiduciary's representation that the fiduciary has special skill or expertise, has a duty to use that special skill or expertise. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1504 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1504 - Diversification.

700.1504 Diversification. Sec. 1504.  A fiduciary shall diversify the investments of a fiduciary estate unless the fiduciary reasonably determines that, because of special circumstances, the purposes of the fiduciary estate are better served without diversifying. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1505 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1505 - Duties at Inception.

700.1505 Duties at inception. Sec. 1505.  Within a reasonable time after accepting appointment as a fiduciary or receiving fiduciary assets, a fiduciary shall review the assets, and make and implement decisions concerning the retention and disposition of assets, in order to bring the fiduciary portfolio into compliance with the purposes, terms, distribution requirements expressed in the governing instrument, and other circumstances of the fiduciary estate, and with the requirements of the Michigan prudent investor rule. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1506 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1506 - Duties of Fiduciary in Interest of Beneficiaries.

700.1506 Duties of fiduciary in interest of beneficiaries. Sec. 1506.  A fiduciary shall invest and manage fiduciary assets solely in the interest of the beneficiaries. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1507 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1507 - Impartiality.

700.1507 Impartiality.Sec. 1507.  If a fiduciary estate has 2 or more beneficiaries, the fiduciary shall act impartially in investing, managing, and distributing the fiduciary assets, and shall take into account any differing interests of the beneficiaries. History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.1508 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1508 - Investment Costs.

700.1508 Investment costs. Sec. 1508.  In investing and managing fiduciary assets, a fiduciary may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the fiduciary estate, and the skills of the fiduciary. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1509 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1509 - Reviewing Compliance.

700.1509 Reviewing compliance. Sec. 1509.  Compliance with the prudent investor rule is determined in light of the facts and circumstances that exist at the time of a fiduciary's decision or action, and not by hindsight. The prudent investor rule requires a standard of conduct, not outcome or performance. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
MI Comp L § 700.1510 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)|386-1998-I-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)|Section 700.1510 - Delegation of Investment and Management Functions.

700.1510 Delegation of investment and management functions. Sec. 1510.  (1) A fiduciary may delegate investment and management functions provided that the fiduciary exercises reasonable care, skill, and caution in all of the following:  (a) Selecting an agent.  (b) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the governing instrument.  (c) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.  (2) A fiduciary who complies with the requirements of subsection (1) is not liable to the beneficiaries or to the fiduciary estate for a decision or action of the agent to whom the function was delegated.  (3) In performing a delegated function, an agent owes a duty to the fiduciary estate to exercise reasonable care to comply with the terms of the delegation. If an agent accepts the delegation of a fiduciary function from a fiduciary that is subject to the laws of this state, the agent submits to the jurisdiction of this state's court. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC