Michigan HB5046 modifies civil procedure for foreclosures, detailing recording of deeds and redemption periods.
Michigan HB5046 amends civil procedure for foreclosures by modifying sections 3232 and 3240 of the Michigan Compiled Laws. It specifies that if a deed is not recorded within 20 days after a sale, the sale remains valid, but the redemption period starts on the recording date. It also outlines different redemption periods based on property type and usage, such as 6 months for commercial or industrial properties and 1 year for agricultural properties.
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