Civil procedure: foreclosure; public sale of property being foreclosed by advertisement; allow to be held virtually. Amends secs. 3208 & 3212 of 1961 PA 236 (MCL 600.3208 & 600.3212).
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies Michigan’s foreclosure process to allow for public sales of property being foreclosed to be conducted virtually. It updates the requirements for notices to include information about online sales and specifies how these notices must be published, including on county websites. The changes aim to modernize the foreclosure process and increase accessibility for potential bidders.
Key provisions
- Allows foreclosure sales to be held online.
- Requires notices of foreclosure to include information about online sales, including a website address.
- Specifies how notices must be published, including on county websites.
- Updates the requirements for foreclosure notices to include details about the redemption period.
- Maintains the requirement for posting notices on the premises.
- Clarifies that the street address in a notice doesn't affect the validity of the sale.
- Includes a statement for military service members regarding active duty.
- Prohibits the foreclosing party from publishing notices in newspapers they own.
Who is affected
- Mortgagers
- Mortgagees
- Borrowers facing foreclosure
- Real estate buyers at foreclosure sales
- County courts
Notable changes
- Introduces the ability to conduct foreclosure sales virtually.
Bill text
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Document of record
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- Senate Introduced Bill
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