HB 5359 Summary

• Amends Michigan's Revised Judicature Act to modify redemption procedures for foreclosed properties by requiring purchasers to provide affidavits stating exact redemption amounts and deadlines at the time of sale recording.

• Allows purchasers to designate a representative to assist with redemption calculations and charge a fee for this service, with the purchaser required to accept the designee's computed amount.

• Permits registers of deeds in counties with populations between 750,000 and 1,500,000 to determine redemption amounts at the request of eligible parties and charge up to $50 for this service.

• Clarifies that mortgagors have the same defenses against purchasers regarding amounts used to redeem senior liens from nonjudicial foreclosures as they would have had against the senior lienholders.

• Becomes effective 90 days after enactment, contingent upon passage of House Bill 4924 and either Senate Bill (number blank) or House Bill 5360.