Michigan Laws 600.6070 – Redemption; discharge of levy, judgment, or mortgage; fee
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Terms Used In Michigan Laws 600.6070
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
In all cases of redemption of lands sold on execution, or in all cases of the sale of lands on mortgage foreclosure, whether by advertisement or sale under court order, or in all cases of payment of judgments where the record shows a levy, or any other lien by mortgage levy, or lis pendens, it shall and may be lawful and it is hereby made the duty of the officer making such sale, or the person receiving such money, or his attorney, to discharge such levy, judgment, or mortgage from the record of the register of deeds, in the proper county in which such sale is made. The fee for recording shall be the same as provided by law for the recording of discharges of mortgages.