Michigan HB5153 modifies foreclosure auction procedures and surplus distribution.
Michigan HB5153 amends sections 3240 and 3252 of the 1961 PA 236 to modify foreclosure auction procedures and surplus distribution. The bill specifies the redemption periods for different types of properties, including residential, commercial, and agricultural properties. It also details the process for handling surplus funds after a foreclosure sale, including the requirements for claimants and interested parties to file claims and proofs.
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