Michigan Laws 211.1097 – Unpaid taxes; manner of forfeiture, foreclosure, and sale
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Terms Used In Michigan Laws 211.1097
- 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
- Transitional qualified forest property: means forestland that meets all of the following:
(i) The forestland is classified as commercial forest under part 511 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 211.1092
Unpaid transitional qualified forest property specific taxes are subject to forfeiture, foreclosure, and sale in the same manner and at the same time as taxes returned as delinquent under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.