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MI SB0350

Bill

Status

Introduced

3/10/2009

Primary Sponsor

Mark Jansen

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Origin

Senate

95th Legislature

AI Summary

  • Amends redemption procedures for foreclosed property in Michigan by replacing references to "executors" and "administrators" with "personal representative" throughout the statute.

  • Allows registers of deeds in counties with populations between 500,000 and 1,500,000 to determine the amount necessary for redemption under subsection (2), with liability protection for incorrect determinations.

  • Permits registers of deeds to charge up to $50.00 for calculating the redemption amount.

  • Clarifies that purchasers must attach affidavits stating the exact redemption amount, including daily per diem amounts and redemption deadlines, and may designate a third party to assist in computing redemption costs for a stated fee.

  • Modifies the language requiring 30 days' notice (or 10 days for redemption periods of 30 days or less) before the last day of the redemption period for filing affidavits documenting payment of taxes, senior liens, assessments, and insurance premiums.

Legislative Description

Civil procedure; foreclosure; amount required to redeem foreclosed property; allow certain registers of deeds to calculate. Amends sec. 3240 of 1961 PA 236 (MCL 600.3240).

Civil procedure, foreclosure

Last Action

Referred To Committee Of The Whole With Substitute S-3

12/17/2009

Committee Referrals

Banking & Financial Institutions3/10/2009

Full Bill Text

No bill text available