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Michigan Laws Enacted in 2012

Interested in seeing what Michigan Legislation passed in 2012?

The State Bar of Michigan posted a detailed list of new Public Acts, brief summaries, and links to detailed information about the new laws.

Check it out at the link below:

http://www.michbar.org/publicpolicy/recentlegislation.cfm

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Categories: Uncategorized
  1. February 28, 2013 at 11:24 am

    Jeshua, What happens to property once it has been legally abandoned through court order? I have been researching this for days and I have had no luck

    • February 28, 2013 at 4:51 pm

      Thanks for your question. Property is deemed abandoned after foreclosure if the mortgagee complies with the requisite statute for abandonment. Per MCL 600.3240 sub (11) If the property is abandoned as determined under section 3241a, the redemption period is 30 days or until the time to provide the notice required by section 3241a(c) expires, whichever is later. If the mortgagee complies with 3241a and the mortgagor, borrower, does not rebut the presumption of abandonment, then the redemption period is 30 days.

      Therefore, the abandonment statute is a mechanism to accelerate the redemption period. Assuming the statute has been complied with, the purchaser at the sheriff’s sale, usually the mortgagee, lender, will take full title to the property after 30 days, as opposed to the usual 6 months. I hope this answers your question. If not, please don’t hesitate to call or email me at any time.

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