MI HB5366

Requires that recording of a levy, attachment, lien, lis pendens, sheriff's certificate, marshal's certificate, or other instrument of encumbrance be accompanied by a full accounting of facts supporting the recording and proof of service of actual notice to the recorded landowner to perfect the encumbrance.

Exempts tax liens not required to be recorded under the General Property Tax Act, instruments authorized by state or federal statute, consensual agreements (including mortgages and land contracts), and encumbrances authorized by court order from the new recording requirements.

Exempts filings by commercial lending institutions from the new requirements, defining "commercial lending institution" to include banks, credit unions, insurance companies, motor vehicle finance companies with net assets exceeding $50,000,000, pension funds with net assets exceeding $50,000,000, and various other state and federally chartered lending entities.

Establishes liability for persons not exempt under the exemptions who record encumbrance instruments without lawful cause with intent to harass or intimidate, subjecting them to penalties under MCL 600.2907a.

Makes the act contingent on enactment of Senate Bill No. ____ or House Bill No. 5354.