Bill

Bill > HB5366


MI HB5366

Property: other; citations to the motor vehicle sales finance act in 1846 RS 65; revise. Amends sec. 25 of 1846 RS 65 (MCL 565.25). TIE BAR WITH: HB 5354'23


summary

Introduced
11/14/2023
In Committee
05/23/2024
Crossed Over
Passed
Dead
12/31/2024

Introduced Session

102nd Legislature

Bill Summary

A bill to amend 1846 RS 65, entitled"Of alienation by deed, and the proof and recording of conveyances, and the canceling of mortgages,"by amending section 25 (MCL 565.25), as amended by 2008 PA 357.

AI Summary

This bill amends Section 25 of the 1846 Revised Statutes of Michigan, which deals with the recording of instruments such as liens and attachments. The key provisions of the bill are: 1. Except in certain cases, the recording of an encumbrance instrument is not valid unless it is accompanied by a full accounting of the facts supporting the encumbrance and proof of service of notice to the recorded landowner. 2. The requirements in (1) do not apply to certain instruments, such as tax liens, instruments authorized by state or federal statute, consensual agreements between the property owner and the encumbering party, court-ordered encumbrances, and encumbrances filed by various commercial lending institutions defined in the bill. 3. Persons who encumber property without lawful cause and with the intent to harass or intimidate can be liable for penalties under the Revised Judicature Act. The bill is tie-barred with House Bill 5354, meaning it will only take effect if that bill is also enacted into law.

Committee Categories

Business and Industry, Justice

Sponsors (2)

Last Action

Placed On Third Reading (on 12/13/2024)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...