In Michigan, the time to redeem foreclosed property is six (6) months from the date of sale unless the property is found to be abandoned pursuant to MCL 600.3241a, in which case the redemption period shall be the later of thirty (30) days from the date of sale or fifteen (15) days from the date the notice required by MCL 600.3241a(b) was posted and mailed. This form of affidavit is a method of proving abandonment.
Affidavit of Abandonment Pursuant to Michigan Mich. Comp. Laws ' 600.3241
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Description
Definition and meaning
The Affidavit of Abandonment Pursuant to Michigan Mich. Comp. Laws § 600.3241 is a legal document used by mortgagees in Michigan to declare that a mortgaged property has been abandoned by the mortgagor. The form serves as a formal statement affirming the mortgagee's intent to proceed with foreclosure due to the lack of occupancy and failure of the mortgagor to respond to a notice of default.
How to complete a form
To successfully complete the Affidavit of Abandonment, follow these steps:
- Enter your name as the affiant and indicate your capacity (e.g., mortgagee).
- Provide the full address of the mortgaged property along with the relevant mortgage details.
- Specify the date of your last inspection that confirmed the property is abandoned.
- Reference the date when you sent the notice of mortgage default to the mortgagor.
- Sign the affidavit in the presence of a notary public and have it dated.
Who should use this form
This form is intended for mortgagees, which may include banks, financial institutions, or individual lenders, who need to initiate foreclosure proceedings on a property they have a mortgage on. It is applicable when the mortgagee has not received any response from the mortgagor after issuing a notice of mortgage default.
Key components of the form
The Affidavit of Abandonment contains several critical sections:
- Affiant Information: Name and role of the individual completing the form.
- Property Details: Complete address of the property in question.
- Notice Information: Dates related to the mortgage default notice and any inspections performed.
- Signature and Notary: Verification from a notary public affirming the affiant's signature.
State-specific requirements
In Michigan, the Affidavit of Abandonment must comply with specific state laws outlined in Mich. Comp. Laws § 600.3241. The mortgagee must provide evidence that the property has been abandoned and meet the timelines outlined for sending notices and conducting inspections. Refer to state regulations to ensure compliance.
What to expect during notarization or witnessing
When notarizing the Affidavit of Abandonment, be prepared to present valid identification to the notary public. The notary will confirm your identity, witness you signing the form, and then will affix their seal and signature, officially validating the document. This process ensures that the affidavit is legally recognized.
Common mistakes to avoid when using this form
To avoid issues when filing, be mindful of these common errors:
- Failing to complete all required fields accurately.
- Neglecting to have the form notarized properly.
- Not sending the notice of default to the correct address.
- Incorrectly recording the inspection date.
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