REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961
600.6059 Execution; homestead; sale in case surplus not paid.
In case the surplus, or the amount due on the execution or judgment is not paid according to the provisions of section 6027 of this chapter, it shall be lawful for the officer to advertise and sell the said premises, and out of the proceeds of said sale to pay such debtor the sum of $3,500.00, which shall be exempt from execution for 1 year thereafter, and apply the balance on said execution. No sale may be made in the case last mentioned, unless a greater sum than $3,500.00 is bid therefor, in which case the officer may return said execution for want of property, or report the facts to the court in which said judgment was rendered, as the case may require.
History: 1961, Act 236, Eff. Jan. 1, 1963
Am. 1963, 2nd Ex. Sess., Act 40, Imd. Eff. Dec. 27, 1963
© 2009 Legislative Council, State of Michigan