The bill amends the Revised Judicature Act of 1961, specifically sections 3232 and 3240, to update the procedures and requirements related to the sale and redemption of property following foreclosure. Key changes include the requirement for the person making the sale to promptly execute and deliver a deed to each purchaser, specifying the property location and the amount for which each parcel was sold. Additionally, the bill mandates that the deed must be deposited with the register of deeds within 20 days after the sale, and outlines the responsibilities of the register in preserving and indexing the deed.

Furthermore, the bill clarifies the redemption process, stating that if a deed is not recorded within the specified timeframe, the redemption period will begin on the date the deed is recorded. It also introduces provisions for determining the amount necessary for redemption, including the possibility for a designated individual to assist in this process. The amendments aim to streamline the foreclosure and redemption process while ensuring that all parties involved are adequately informed and protected.

Statutes affected:
House Introduced Bill: 600.3232, 600.3240