MI SB0140

Extends construction lien rights to real property owned or leased by governmental entities, subjecting it to liens on the same basis as private property.

Limits construction liens of subcontractors and suppliers on residential structures to only contract amounts plus interest (including time-price differentials and finance charges), excluding interest that accrues more than 90 days after the lien is recorded.

Establishes that when property is owned or leased by multiple persons, a rebuttable presumption exists that improvements were consented to by all co-owners or co-lessees, and courts may extend liens to non-contracting co-owners' interests if improvement was consented to.

Caps the total construction liens on any property at the amount the owner or lessee contracted to pay, less all payments made, regardless of the number of liens filed.

Allows lien claimants whose vendors' rights are forfeited to assume the vendor's or lessee's rights by performing contract covenants within 30 days of receiving notice of forfeiture or termination.