™Your Policy Risk Impact Agent
15 chapters · 143 sections in this title.
Mich. Comp. Laws § 451.401 Trust mortgage foreclosure; definitions.
0.8K chars
Sec. 1. As used in this act: The term "trust mortgage" means any trust mortgage, trust indenture or deed of trust given to secure bonds or other obligations issued and authenticated as therein set forth. The term "trustee" means the trustee or trustees of any such "trust mortgage…
Mich. Comp. Laws § 451.402 Trust mortgage foreclosure; insufficient bid; request for trustee to bid, procedure.
5.7K chars
Sec. 2. Upon filing in any circuit court in chancery a report of the proceedings had in relation to the sale under a decree of said court for the foreclosure of any trust mortgage given to a trustee to secure bonds issued and authenticated as therein set forth, if it shall appear…
Mich. Comp. Laws § 451.403 Trust mortgage foreclosure; payment to non-concurring holders.
1.5K chars
Sec. 3. The court may in its discretion provide in said order that such payment to non-concurring holders may be made in installments, or otherwise deferred for a period of time if the amount so deferred shall not exceed 25 per cent of the net amount of the bid: Provided, however…
Mich. Comp. Laws § 451.404 Trust mortgage foreclosure; trustee, maintenance and operation of property; sale, accounting.
2.8K chars
Sec. 4. Any property acquired by the trustee as aforesaid shall be managed and administered by the trustee under and in accordance with the rules and principles of law and equity pertaining to express trusts generally subject to the jurisdiction of said court to be exercised in s…