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 allows for sales to be conducted 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 amount be paid within 24 hours after the sale. Additionally, it clarifies that the sale must be conducted by an appointed individual or a sheriff's deputy.

The bill also addresses 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 newspaper, ensuring that the public is adequately informed. The bill eliminates the requirement for an oral announcement of adjournments, streamlining the process.

Statutes affected:
Senate Introduced Bill: 600.3216, 600.3220