to help understanding I have added the deed of settlement into my section on Ballaleigh www.manxnotebook.com/famhist/families/bcurleod.htm#ballalheigh

the Ballacaine in Patrick can be followed in some outline with lib vas and the wills (remember no parish reg until 1714) - also there are a few gaps in lib vas (1699 is in fragments and I seem to have missed copying 1684)

Kerrow Keal has rent 8s 1d (doubled in 1704) and is in treen Alia ('other') Dalby - lib vas changes can lag some years behind the actual events

John Cayne replaced by son Tho Cayne in 1666 which probably reflects the 1654 will/decree of a John Cayne - d 7 feb 1654;ch jony,margt,alice, john,tho(eldest);wife alive;
Thoams the eldest would succeed to land
Thomas is replaced by a William but I suspect skipped a generation as will for a Wm Caine 1689: d 1 feb 1689;ch wm, jony + margt jt admrs - ua gfa thomas caine;wife alive
Grandfather Thomas I think d 1691/2
d 12 feb 1691;gson wm cain;gdau jony,margt cain;dau ann cain exex

you have the Lib Vas entry showing transfer to Wm's son John in 1711 + Wm's Will etc

thus I can't see any connection with any Kirk Michael family - maybe you could explain your reasoning here as nothing would seem to indicate this to me - the marriage of John cain to Anne Carran took place Patrick 1731-05-29 and no note that either was out of parish