M L  
95th Legislature Regular Session  
Michigan Compiled Laws Complete Through PA 139 of 2009  
House: Adjourned until Tuesday, December 01, 2009 1:30:00 PM  
Senate: Adjourned until Tuesday, December 01, 2009 10:00:00 AM  
HomeRegisterWhy Register?LoginNew!Help




Act 210 of 1933
Search within this Statute for


TRUST MORTGAGE FORECLOSURE

Act 210 of 1933

AN ACT to provide for the acquisition, management and disposition, by the trustee or trustees as a trust under the jurisdiction of equity, of property mortgaged to such trustee or trustees to secure bonds or other obligations, where such acquisition is requested or assented to by the holders of a majority in amount of such bonds or obligations and no bid for the mortgaged property at public sale under decree of foreclosure was or is made or appears to be obtainable for a sum representing the fair and reasonable value of the interest in said property of all holders of such bonds or obligations; to provide for the concurrence or non-concurrence of such holders in said request and for the method, time and manner of payment to non-concurring holders of their pro rata share of the amount so bid by said trustee or trustees.


History: 1933, Act 210, Imd. Eff. July 3, 1933


© 2009 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 451.401SectionTrust mortgage foreclosure; definitions.
Section 451.402SectionTrust mortgage foreclosure; insufficient bid; request for trustee to bid, procedure.
Section 451.403SectionTrust mortgage foreclosure; payment to non-concurring holders.
Section 451.404SectionTrust mortgage foreclosure; trustee, maintenance and operation of property; sale, accounting.
Section 451.405SectionConstruction and application of act; severing clause.

Acceptable Use Policy Privacy Policy Copyright Infringement Comment Form
The Michigan Legislature Website is a free service of the Legislative Internet Technology Team in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, and the Michigan Senate.  The information obtained from this site is not intended to replace official versions of that information and is subject to revision. The Legislature presents this information, without warranties, express or implied, regarding the accuracy of the information, timeliness, or completeness. If you believe the information is inaccurate, out-of-date, or incomplete or if you have problems accessing or reading the information, please send your concerns to the appropriate agency using the online Comment Form in the bar above this text.

Questions about the law?  Contact the State Law Library between 1-5pm (M-F) - (517) 373-0630 or use the comment form to send them email.