MI

Registry entries (prose)

Sale typeWhat you actually buy. A lien sale gives you a claim on the property and the owner keeps it for now; a deed sale transfers the property itself. A redeemable deed transfers ownership but still gives the former owner time to pay you back. See the full glossary for more terms.

deed

MCL 211.78m

Interest / penaltyWhat you earn when the owner redeems. Interest is a rate paid over time; a penalty is usually a one-time percentage of the tax or redemption amount. A rate that is bid down during the auction is still interest. See the full glossary for more terms.

1/2% per month noncompounded additional interest; $175 fee

MCL 211.78g(3)(b)

RedemptionHow long the former owner has to repay the debt and keep the property after the sale. Your money stays tied up until this window closes, so a long period can mean a multi-year wait on a lien. See the full glossary for more terms.

until March 31 following foreclosure judgment

MCL 211.78g(3)

Bid methodHow the winner is chosen: bidding the interest rate down, bidding a premium above the amount owed, a random or rotating draw, or simply buying at the minimum bid. See the full glossary for more terms.

auction sale; minimum bid (highest amount above minimum wins)

MCL 211.78m(2)

Sale timingWhen sales are typically held. Many counties publish sale lists only a few weeks ahead, and some sell continuously or on their own schedule. See the full glossary for more terms.

July-November (3rd Tuesday in July to 1st Tuesday in November)

MCL 211.78m(2)

Source

https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-211-78m

Title vests in foreclosing governmental unit at foreclosure.

Counties (83)