Michigan Laws 600.3835 – Proceeds from sale of personal property; application
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Terms Used In Michigan Laws 600.3835
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
The proceeds of the sale of the personal property, as provided in section 3830, shall be applied in payment of the costs of the action and abatement, and the balance, if any, shall be paid to qualified secured parties and lien holders and then toward the costs incurred in the prosecution of the action, including reasonable attorney fees for services necessitated as determined by the court, and any remaining balance shall be paid to the persons entitled to them as ordered by the court or, if applicable, as ordered under section 3825(5).