Finance
A Michigan land contract buyer who defaults may face which remedy from the seller?
AJudicial foreclosure only
BForfeiture (summary proceedings) if specific equity thresholds are not met, or foreclosure✓ Correct
CAutomatic title transfer to the seller
DImmediate eviction without notice
Explanation
In Michigan, a land contract seller may pursue forfeiture proceedings (summary proceedings similar to eviction) if the buyer's equity is limited, or may foreclose judicially if the buyer has significant equity. The remedy depends on how much the buyer has paid.
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