NOTICE TO TENANTS OF IMPENDING FORECLOSURE

House Bill 5532

Sponsor:  Rep. Shanelle Jackson

Committee:  Regulatory Reform

Complete to 11-25-08

A SUMMARY OF HOUSE BILL 5532 AS INTRODUCED 12-6-07

The bill would add a new section to the Truth in Renting Act to require a rental agreement to contain a provision that a landlord must notify a tenant of any foreclosure actions being taken against the property.  The notice would have to be provided at least 30 days before the property was foreclosed on.

MCL 554.640a

FISCAL IMPACT:

The bill would have no significant budgetary impact on the state or local units of government.  The act provides that the Attorney General or any affected individual may bring an action to enforce the act in a court of competent jurisdiction in the county where the defendant resides or does business.  Any costs related to enforcement of the act through the court system would not be significant. 

                                                                                           Legislative Analyst:   Susan Stutzky

                                                                                                  Fiscal Analyst:   Mark Wolf

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.