Michigan Laws 600.3125 – Sale of land on foreclosure; authorized persons; public sale; time; place; MCL 600.6091 applicable
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 600.3125
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- judgment: as used in this act , includes decree. See Michigan Laws 600.112
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
All sales of land on foreclosure of a land contract or mortgage on real estate shall be made by the county clerk of the county in which the judgment was rendered or of the county where the land or some part of the land is situated, by a deputy county clerk, or by some other person duly authorized by the order of the court. These sales shall be at public sale between the hour of 9 a.m. and 4 p.m. and shall take place at the courthouse or place of holding of the circuit court in the county in which the land or some part of its is situated or at any other place the court directs. The sale is subject to section 6091.