Section 600.5803 - Foreclosure of mortgages.
REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961
600.5803 Foreclosure of mortgages.
Sec. 5803.
No person shall bring or maintain any action or proceeding to foreclose a mortgage on real estate unless he commences the action or proceeding within 15 years after the mortgage becomes due or within 15 years after the last payment was made on the mortgage. This section limits foreclosure by advertisement and any other entries under the mortgage as well as actions of foreclosure in the courts.
History: 1961, Act 236, Eff. Jan. 1, 1963