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Michigan Criminal Code: False Pretenses and False Representation

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Property valuation or indebtedness

Published: 9 months ago

THE MICHIGAN PENAL CODE (EXCERPT) Act 328 of 1931

750.220 Property valuation or indebtedness; false statements. Sec. 220.

Any person who willfully and knowingly makes any false statement in writing of his or her property valuation, real or personal, or both, or of his or her indebtedness, for the purpose of obtaining credit from any person, company, co-partnership, association, or corporation, is guilty of a misdemeanor punishable by imprisonment for not more than 1 year or a fine of not more than $1,000.00.

History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- CL 1948, 750.220 ;-- Am. 2002, Act 672, Eff. Mar. 31, 2003 Former Law: See section 1 of Act 85 of 1909, being CL 1915, § 15343; and CL 1929, § 16993.

Michigan's Law Against False Property Valuation

Michigan has a specific law under its Penal Code Act 328 of 1931, section 750.220, targeting false statements about property valuation or indebtedness. In simple terms, this law aims to prevent and penalize fraudulent financial representations made to secure credit.

What Does the Law Say?

In Michigan, knowingly and willfully making false statements in writing about your property valuation, either real or personal, or about your indebtedness for the purpose of obtaining credit, is illegal.

Here, it's essential to understand the terms:

  • Property Valuation: This refers to the estimated worth or value of your property. It includes both real property, such as land or houses, and personal property, like vehicles or personal belongings.
  • Indebtedness: This means the amount of money you owe to others.

So, if you intentionally lie about the worth of your property or the amount of debt you have, to obtain credit from any person or entity, you're breaking this law.

What Are the Penalties?

If you're found guilty of this offense, it's considered a misdemeanor in Michigan. You could be punished by imprisonment for not more than 1 year or a fine of not more than $1,000.

In conclusion, honesty is the best policy when dealing with property valuations and indebtedness, especially when looking to secure credit. Not only is it the right thing to do, but it also helps to avoid running afoul of laws like Michigan's Penal Code section 750.220.

This article serves to inform and does not replace professional legal advice. If you're dealing with a related legal situation, consult a legal expert.

This should be used for informational and general purposes only and should not be construed as legal advice or relied on aside for general information that may contain opinion.

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