FORM OF DEEDS, MORTGAGES, AND ACKNOWLEDGMENTS
Act 187 of 1881
565.154 Mortgage; wording; validity and enforceability.
Sec. 4.
A mortgage of lands that is worded in substance as follows: "A.B. mortgages and warrants to C.D., (here describe the premises) to secure the re-payment of" (here describe the indebtedness or obligations the mortgage secures) and is signed by the grantor, is a valid and enforceable mortgage to the grantee and the grantee's heirs, assigns, successors, and personal representatives with warranty from the grantor and the grantor's legal representatives, of marketable title in the grantor, free from prior incumbrances. If the indebtedness or obligations secured are described generally, such as "all indebtedness that A.B. now and in the future owes to C.D.", and if the words "and warrant" are omitted from the form, the mortgage is valid and enforceable, but without warranty.
History: 1881, Act 187, Eff. Sept. 10, 1881 ;-- How. 5731 ;-- CL 1897, 9017 ;-- CL 1915, 11752 ;-- CL 1929, 13324 ;-- CL 1948, 565.154 ;-- Am. 2004, Act 422, Imd. Eff. Dec. 15, 2004
Notes of Decisions
United States v. Certain Real Prop. Located at 750 East Shore Drive, 800 F. Supp. 547 (E.D. Mich. 1992).
· cites it 6× “, (here describe the premises) to secure the re-payment of (here recite the sum for which the mortgage is granted, or the notes or other evidence [evidences] of debt, or a description thereof, sought to be secured, also the date of the re-payment), the said mortgage being dated…”
Richardson v. Countrywide Home Loans (In Re Gregory), 316 B.R. 82 (Bankr. W.D. Mich. 2004).
· cites it 2× “Mich. Comp. Laws Ann. § 565.154 . Indeed, the mortgage need not even reference fixtures as being subject to the mortgage since any interest in fixtures automatically passes with the conveyance of any interest in the related land.”
Boyd v. Perry (In Re Boyd), 185 B.R. 529 (Bankr. E.D. Mich. 1995).
· cites it 4× “§ 565.154. It is undisputed that the mortgage note contains the following information: 1) the legal description of the Antrim, Michigan property; 2) the principal sum of $15,000 as the amount of the debt; 3) the date of the note; and 4) the signature of the grant- or/debtor.”
Xplor Indus. Complex LLC v. Signature Bank (Mich. Ct. App. 2015).
“First, they contend that the mortgage did not actually secure any debt because it did not specifically describe the notes they were intended to secure, as required by MCL 565.154. That statute, which describes the form of mortgages, provides: A mortgage of lands that is worded…”
In Re Est. of Moukalled, 731 N.W.2d 87 (Mich. 2007).
“" However, pursuant to MCLA 565.154 any mortgage of lands must be worded in the following[:] "A.”
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