MARKETABLE RECORD TITLE                                                                           S.B. 671:

                                                                                                    SUMMARY OF BILL

                                                                                      REPORTED FROM COMMITTEE

Senate Bill 671 (as reported without amendment)

Sponsor:  Senator Rick Jones

Committee:  Local Government

CONTENT

The bill would amend Public Act 200 of 1945, which defines a marketable record title to an interest in land, to do the following:

-- Allow claims against a marketable record title to be recorded within two years after the bill's effective date.

-- Specify that a conveyance or other title transaction in the chain of title would purport to divest an interest in the property only if it created the divestment or if it specifically referred by liber and page or other county-assigned unique identifying number to a previously recorded conveyance or other title transaction that created the divestment.

-- Expand the information that must be included in a notice of claim if the claim is based on a recorded instrument.

The bill also would repeal Section 9 of the Act (which allowed claims to be preserved by the filing of a notice of claim before February 1, 1948).

MCL 565.101 et al.                                                   Legislative Analyst:  Drew Krogulecki

FISCAL IMPACT

The bill would have no fiscal impact on State or local government.

Date Completed:  2-14-18                                                    Fiscal Analyst:  Ryan Bergan

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.