Michigan Laws 600.3237 – Interior inspection during redemption period; notice; contents; methods for achieving actual notice
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Terms Used In Michigan Laws 600.3237
- 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
- in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
(1) After a foreclosure sale under this chapter, if the purchaser at the sale intends to conduct an interior inspection of the property under section 3238 during the redemption period, the purchaser shall provide an initial notice to the mortgagor and any other person that has possession of the property in writing that contains all of the following:
(a) The identity of the purchaser.
(b) The residence or business address, mailing address, telephone number, and, if applicable, electronic mail address at which the purchaser may be contacted.
(c) The date of the sale, the amount of the sale, and the estimated date the redemption period expires.
(d) The details of the purchaser’s rights of inspection under section 3238.
(e) One or more alternative methods for surrendering control of the property under section 3278.
(f) A statement that if the mortgagor intends to vacate the property at any time after the sale, he or she must notify the purchaser as required by section 3278, and that if the mortgagor does not do so, he or she may risk heightened liability for damage to the property.
(2) The purchaser shall provide notice under this section by certified mail, physical posting on the property, or any other method reasonably calculated to achieve actual notice.