After a sheriff's sale on her Lansing home, Diane wants to know her rights during the statutory redemption period. Which of the following statements correctly describes Diane's rights under Michigan law?
Correct Answer
B) Diane may remain in possession of the property during the redemption period
Under MCL 600.3278, during the statutory redemption period following a sheriff's sale, the mortgagor (Diane) retains the right to remain in possession of the property. This is a key protection for Michigan homeowners facing foreclosure. The redemption period allows the borrower time to arrange financing or sell the property to recover equity.
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Related Topics & Key Terms
Key Terms:
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