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Current as of January 01, 2025 | Updated by Findlaw Staff
Sec. 58. If the mortgagee of a first mortgage of record or other purchaser of a condominium unit obtains title to the condominium unit as a result of foreclosure of the first mortgage, that mortgagee or purchaser and his or her successors and assigns are not liable for the assessments by the administering body chargeable to the unit that became due prior to the acquisition of title to the unit by that mortgagee or purchaser and his or her successors and assigns.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 559. Condominiums § 559.158 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-559-condominiums/mi-comp-laws-559-158/
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