Michigan Laws 125.1449f – Sale of distinct farms, tracts, or lots separately or together
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Terms Used In Michigan Laws 125.1449f
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
If the mortgaged premises consist of distinct farms, tracts, or lots not occupied as 1 parcel, they shall be sold separately, and no more farms, tracts, or lots shall be sold than shall be necessary to satisfy the amount due on such mortgage at the date of the notice of sale, with interest and the cost and expenses allowed by law but if distinct lots be occupied as 1 parcel, they may in such case be sold together.