{"data":{"id":"us-mi/mich.-comp.-laws-322.3","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 322.3","heading":"Terms of sale; credit; limitation; security.","body":"Sec. 3.\n\nUpon sale of real estate under this act, the state treasurer may give such length of credit, not to exceed 5 years, and for not more than 3/4 of the purchase money, as the state treasurer considers best calculated to produce the highest price, and shall require the money for which credit is given to be secured by a mortgage on the real estate sold.","path":["MI Code","Chapter 322","Act Act-230-of-1941"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-322-3","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"70e23256c907350cb939ca6b34de3a4d81ab860e9287625e1fe98140dc7f496a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-322.2","next":"us-mi/mich.-comp.-laws-322.4"},"notice":"GroundRules: Original legal text. Not legal advice."}