May 27, 2022

Volume XII, Number 147

Advertisement
Advertisement

May 27, 2022

Subscribe to Latest Legal News and Analysis

May 26, 2022

Subscribe to Latest Legal News and Analysis

May 25, 2022

Subscribe to Latest Legal News and Analysis
Advertisement

Court Holds Third Party Purchasers May Not Shorten Mortgage Foreclosure Redemption Period For Abandoned Properties

The Michigan Court of Appeals in a recent unpublished opinion has held that a third party which purchases property at a mortgage foreclosure sale may not take advantage of Michigan's statute which allows the shortening of the normal six month redemption period when the property has been abandoned.

In Leggio v Michael E. Huffer, an unpublished opinion issued by the Court of Appeals on July 3, the Court held that under the plain language of MCL 600.3241a, only the mortgagee may take advantage of the statutory procedure for shortening the redemption period from six months to 30 days if the property has been abandoned by the mortgagor.  The Court reasoned that since the abandonment statute repeatedly refers to the "mortgagee", the statute should not be defined to include third parties who purchase properties at foreclosure sales.

© 2022 Varnum LLPNational Law Review, Volume II, Number 215
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

About this Author

Randall J. Groendyk, Varnum law firm Creditor's Rights Attorney, Civil Litigation Lawyer
Counsel

Randy focuses his practice on creditor's rights law, including collections, bankruptcy, landlord-tenant, claim and delivery, foreclosure, and commercial and general civil litigation. His specialties also include Fair Debt Collection Practices Act and Fair Credit Reporting Act defense and compliance review.

Honors & Recognitions

Martindale-Hubbell® Distinguished™ Peer Review Rated

Professional Affiliations

ACA International

Commercial Law League of America

Grand Rapids Bar Association

Michigan Association of Collection...

616/336-6573
Advertisement
Advertisement
Advertisement