Mich. Admin. Code R. 281.2213 - Certificate of title; surrender; destruction
Rule 13.
(1) The
secretary of state shall take possession of a certificate of title that is
issued or purportedly issued under this act when the certificate is counterfeit
or fictitious, when it has been improperly issued, or when it has been
cancelled. The secretary of state may destroy a faulty, fictitious, defective,
or cancelled certificate of title upon its receipt.
(2) The holder of a certificate of title to a
watercraft which has been transferred by operation of law, as upon inheritance,
devise, bequest, order in bankruptcy, insolvency, replevin, or execution of
sale, which is sold to satisfy storage or repair charges, or which is
repossessed upon default in the performance of the terms of a security
agreement shall mail or deliver the certificate to the secretary of state upon
request.
(3) The holder of a
certificate of title to a watercraft may, if the holder voluntarily subjected
the watercraft to the provisions of the act, return the certificate of title to
the secretary of state for cancellation. A voluntary request for cancellation
of title shall be accompanied by a certified statement indicating that
creditors do not exist. If creditors do exist, the voluntary request for
cancellation shall be accompanied by an original discharge or termination
statement executed by each creditor.
Notes
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