This bill amends the Revised Judicature Act of 1961 by updating the procedures for the sale of mortgaged property. It specifies that such sales must be conducted at a public sale between 9:00 a.m. and 4:00 p.m., and can occur either in person at the circuit court location or online. The bill mandates that the online auction platform used must be secure and accessible, and requires that the highest bid be paid within 24 hours. Additionally, the sale must be conducted by an appointed individual or a sheriff's deputy.

The bill also outlines the process for adjournments of the sale. It allows for adjournments to be made at the request of the party who published the notice of sale, with specific requirements for posting notices of adjournment. If the sale is to be conducted online, the notice must be prominently displayed on the auction platform and the county's website. Furthermore, if an adjournment lasts more than one week, the notice must be published in a local newspaper. The bill clarifies that an oral announcement of an adjournment is not necessary.

Statutes affected:
Senate Introduced Bill: 600.3216, 600.3220