600.3201 Foreclosure by advertisement of mortgage containing power of sale; exception. Sec. 3201. Every mortgage of real estate, which contains a power of sale, upon default being made in any condition of such mortgage, may be foreclosed by advertisement, in the cases and in the manner specified in this chapter. However, the procedures set forth […]
600.3204 Foreclosure by advertisement; circumstances; installments as separate and independent mortgage; redemption; chain of title. Sec. 3204. (1) A party may foreclose a mortgage by advertisement if all of the following circumstances exist: (a) A default in a condition of the mortgage has occurred, by which the power to sell became operative. (b) An action […]
600.3205 Repealed. 2014, Act 125, Eff. June 19, 2014. Compiler’s Notes: The repealed section pertained to designation of individual to serve as contact.
600.3205a-600.3205d Repealed. 2012, Act 521, Eff. June 30, 2013. Compiler’s Notes: The repealed sections pertained to requirements for notice of foreclosure, loan modification program and process, and development of housing counselor list.
600.3205e Repealed. 2014, Act 125, Eff. June 19, 2014. Compiler’s Notes: The repealed section pertained to applicability and repeal of MCL 600.3205a to 600.3205d.
600.3206 Repealed. 2014, Act 125, Eff. June 19, 2014. Compiler’s Notes: The repealed section pertained to loss mitigation procedures occurring before mortgage foreclosure.
600.3208 Notice of foreclosure; publication; posting. Sec. 3208. Notice that the mortgage will be foreclosed by a sale of the mortgaged premises, or some part of them, shall be given by publishing the same for 4 successive weeks at least once in each week, in a newspaper published in the county where the premises included […]
600.3212 Notice of foreclosure by advertisement; contents. Sec. 3212. (1) A notice of foreclosure by advertisement must include all of the following: (a) The names of the mortgagor, the original mortgagee, and the foreclosing assignee, if any. (b) The date of the mortgage and the date the mortgage was recorded. (c) The amount claimed to […]
600.3216 Sale; time and place. Sec. 3216. The sale shall be at public sale, between the hour of 9 o’clock in the forenoon and 4 o’clock in the afternoon, at the place of holding the circuit court within the county in which the premises to be sold, or some part of them, are situated, and […]
600.3220 Sale; adjournment; notice; posting; publication. Sec. 3220. Such sale may be adjourned from time to time, by the sheriff or other officer or person appointed to make such sale at the request of the party in whose name the notice of sale is published by posting a notice of such adjournment before or at […]
600.3224 Sale of distinct parcels. Sec. 3224. If the mortgaged premises consist of distinct farms, tracts, or lots not occupied as 1 parcel, they shall be sold separately, and no more farms, tracts, or lots shall be sold than shall be necessary to satisfy the amount due on such mortgage at the date of the […]
600.3228 Sale; purchase by mortgagee or assigns. Sec. 3228. The mortgagee, his assigns, or his or their legal representatives, may, fairly and in good faith, purchase the premises so advertised, or any part thereof, at such sale. History: 1961, Act 236, Eff. Jan. 1, 1963
600.3232 Deed of sale; endorsement; deposit with register; recording; entry upon redemption. Sec. 3232. The officer or person making the sale shall forthwith execute, acknowledge, and deliver, to each purchaser a deed of the premises bid off by him; and if the lands are situated in several counties he shall make separate deeds of the […]
600.3236 Deed of sale; effect upon failure to redeem; prior liens. Sec. 3236. Unless the premises described in such deed shall be redeemed within the time limited for such redemption as hereinafter provided, such deed shall thereupon become operative, and shall vest in the grantee therein named, his heirs or assigns, all the right, title, […]
600.3237 Interior inspection during redemption period; notice; contents; methods for achieving actual notice. Sec. 3237. (1) After a foreclosure sale under this chapter, if the purchaser at the sale intends to conduct an interior inspection of the property under section 3238 during the redemption period, the purchaser shall provide an initial notice to the mortgagor […]
600.3238 Interior and exterior inspection of property; notice; commencement of summary proceedings by purchaser for possession of property; judgment; “damage” defined. Sec. 3238. (1) After a foreclosure sale under this chapter and providing notice under section 3237, the purchaser at the sale may inspect the property, including the exterior and interior of any structures on […]
600.3240 Redemption of premises; payment; amount; redemption of senior lien; defenses; recordation; redemption periods; amount stated in recorded affidavit; county having population of more than 750,000 and less than 1,500,000; limitation on amount charged by register of deeds; use of property for agricultural purposes; presumption. Sec. 3240. (1) A purchaser’s deed under section 3232 is […]
600.3241 Abandonment of premises; presumption. Sec. 3241. For purposes of this chapter, abandonment of premises shall be conclusively presumed upon satisfaction of the following requirements: (a) Within 30 days before the commencement of foreclosure proceedings hereunder, the mortgagee mails by certified mail, return receipt requested, to the mortgagor’s last known address a notice that the […]
600.3241a Abandonment of premises; residential property not exceeding 4 units; presumption. Sec. 3241a. For purposes of this chapter, if foreclosure proceedings have been commenced under this chapter against residential property not exceeding 4 units, there is a conclusive presumption that the premises have been abandoned if all of the following requirements are satisfied before the […]
600.3244 Redemption; destruction of deed; record. Sec. 3244. Upon the payment of the entire sum bid at such sale, and interest thereon, and the fee of $5.00 mentioned in section 3240 to the register in whose office the deed therefor shall have been deposited, or upon delivering to such register a certificate, signed and acknowledged […]
