MI HB5364

Amends the Revised Judicature Act to modify requirements for forfeiture of land contracts by requiring written notice of forfeiture and a 15-day cure period before possession can be recovered.

Notice of forfeiture must include party names, contract execution date, recording date (if applicable), property address or legal description, unpaid amounts and payment dates, any material breaches, and declaration of forfeiture effective date.

For residential land contracts involving 1-4 residential units, a notice of forfeiture is only effective if the land contract or certificate of residential land contract has been recorded with the county register of deeds for at least the lesser of: (a) half the time elapsed from contract execution to notice date, or (b) one year.

Applies only to land contracts entered into on or after the effective date of the bill.

Enactment is contingent upon passage of Senate Bill No. ____ or House Bill No. 5365.