Property Ownership
In Michigan, a 'writ of execution' following a court judgment can result in:
AAutomatic transfer of the debtor's real property to the creditor
BA judgment lien attaching to the debtor's real property, which can be enforced by forcing a sale✓ Correct
CThe debtor's permanent loss of all property rights
DImmediate mortgage foreclosure
Explanation
A money judgment in Michigan creates a judgment lien on the debtor's real property when a certified copy is docketed in the county where the property is located. The creditor can then seek a sheriff's sale to satisfy the judgment.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
Math Concepts
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