Execution; Refusal of Highest Bidder to Take Property; Effect - Mich. Comp. Laws Section 600.6045
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Michigan Laws > Revised Judicature Act Of 1961 > Execution; Refusal of Highest Bidder to Take Property; Effect - Mich. Comp. Laws Section 600.6045
600.6045 Execution; refusal of highest bidder to take property; effect.
Sec. 6045.
(1) If the highest bidder for any property at any sale on execution refuses to take and pay for it, he is liable for any loss on resale.
(2) In such case the officer shall sell the property again at the same time, or thereafter, giving notice of the second sale.
(3) The officer conducting the sale may sue to enforce the liability under subsection (1), and may recover in the action the expenses of the second sale, and may tax reasonable attorney fees as costs.
(4) The officer shall account for what he receives on the second sale and for any damages recovered under subsection (1) as for so much received on the execution.
History: 1961, Act 236, Eff. Jan. 1, 1963
Section: 600.6036 600.6037 600.6038 600.6041 600.6042 600.6043 600.6044 600.6045 600.6046 600.6047 600.6051 600.6052 600.6053 600.6054 600.6055
Last modified: March 17, 2013
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