Civil procedure: foreclosure; recording of deed; modify. Amends secs. 3232 & 3240 of 1961 PA 236 (MCL 600.3232 & 600.3240).

Section 3232(5) was restructured into two subparts: (a) if the deed is recorded within 20 days, both the redemption period and interest on the bid amount start from the date of sale; (b) if not recorded within 20 days, both the redemption period and interest start from the date the deed is recorded. Previously, only the redemption period start was addressed; the interest accrual rule is new.

Section 3240(2) now states that interest runs from the date of sale 'except as provided in section 3232(5),' meaning if the deed is not timely recorded, interest does not begin accruing until recording. Previously, interest always ran from the date of sale regardless of when the deed was recorded.

All redemption period provisions in sections 3240(7) through (12) now include language making them 'subject to section 3232(5)' or 'except as provided in section 3232(5),' so the start date of every redemption period is now subject to the deed recording timing rule.

Former subsection 3240(17), which stated that if the deed is recorded more than 20 days after sale the redemption period begins on the recording date, was removed because its substance is now embedded in section 3232(5) and cross-referenced throughout.