HB-5832, As Passed House, June 30, 2004
April 29, 2004, Introduced by Reps. Rivet, Bisbee, Stahl, Brandenburg, Wenke, Huizenga and Palsrok and referred to the Committee on Commerce.
A bill to amend 1881 PA 187, entitled
"An act in relation to the form of deeds and mortgages of real
estate and to the form of the acknowledgments of the same,"
by amending section 4 (MCL 565.154).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 4. Any A
mortgage of lands that is worded in
2 substance as follows: "A.B. mortgages and warrants to C.D.,
3 (here describe the premises) to secure the re-payment of" (here
4 recite the sum for
which the mortgage is granted, or the notes
5 or other evidence
[evidences] of debt, or a description thereof,
6 sought to be secured,
also the date of the re-payment), the said
7 mortgage being dated
and duly describe the
indebtedness or
8 obligations the mortgage secures) and is signed , sealed and
9 acknowledged by the grantor, shall be deemed and held to be is
10 a good and sufficient
valid and enforceable mortgage to the
11 grantee , his and
the grantee's heirs, assigns, executors and
1 administrators, successors, and personal representatives with
2 warranty from the grantor
and his the grantor's legal
3 representatives, of perfect
marketable title in the grantor,
4 and against all
previous free from prior
incumbrances. And if
5 in the above form If the indebtedness or obligations secured are
6 described generally, such as "all indebtedness that A.B. now and
7 in the future owes to C.D.", and if the words "and warrant" be
8 are omitted from the
form, the mortgage shall be good is valid
9 and enforceable, but without warranty.