Real Estate Laws in Michigan.

Sellers of residential property (1–4 units) must deliver a written disclosure statement covering known defects in structure, systems, and property conditions before a binding purchase agreement.

Nonjudicial foreclosure permitted where the mortgage contains a power-of-sale clause. Requires notice by publication for 4 consecutive weeks and posting on the property, followed by sheriff's sale.

Residential redemption period is 6 months (extended to 12 months if more than two-thirds of the original indebtedness has been paid), and 30 days or 1 year for abandoned property. Agricultural property: 1 year.

Michigan is a race-notice state: a subsequent bona fide purchaser for value without notice who records first prevails over an earlier unrecorded conveyance.

Governs formation, master deed, bylaws, and association powers for condominiums. Requires disclosure statement to first purchasers.

A homeowner's principal residence is exempt from the 18-mill school operating millage, producing a significant property-tax reduction. Requires an affidavit filed with the local assessor.