MI HB4544

Modifies redemption periods for foreclosed properties based on property type and abandonment status, effective for sales held on or after February 1, 2012.

Establishes a 6-month redemption period for commercial, industrial, multifamily residential properties exceeding 4 units, and residential properties of 4 units or less where the mortgage debt exceeds 66-2/3% of original indebtedness.

Reduces redemption period to 3 months for abandoned residential properties of 4 units or less, and to 1 month if the property is abandoned and debt exceeds 66-2/3% of original indebtedness.

Sets redemption period to 30 days or until required notice period expires (whichever is later) for properties meeting abandonment criteria under section 3241a.

Preserves a 1-year redemption period for agricultural property and extends the register of deeds' authority to determine redemption amounts for counties with populations between 750,000 and 1,500,000.