Michigan Compiled Laws
Mich. Comp. Laws § 600.6034 (2026)
Execution; property subject to chattel mortgage.
✓ current as of July 2026
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REVISED JUDICATURE ACT OF 1961
Act 236 of 1961
600.6034 Execution; property subject to chattel mortgage.
Sec. 6034.
The purchaser at a sale of goods or chattels pledged by way of mortgage or otherwise shall be entitled to pay, before foreclosure, to the person holding the mortgage or pledge the amount actually due thereon, or otherwise perform before foreclosure, the terms and conditions of the pledge, and on payment or performance, or on full tender thereof, shall acquire all the right, interest, and property which the defendant in execution would have had in such goods and chattels if no pledge or mortgage had been made.
History: 1961, Act 236, Eff. Jan. 1, 1963
Notes of Decisions
Cited in 2
cases, 1995–1996 · leading case: In Re Dow Corning Corp., 192 B.R. 428 (Bankr. E.D. Mich. 1996).
In Re Dow Corning Corp., 192 B.R. 428 (Bankr. E.D. Mich. 1996). “Though one may question the logic of allowing a transferee who takes property via a voluntary transfer from the constructive trustee to prevail, but not a transferee who takes via an involuntary seizure, it nonetheless appears to be the accepted result.”
Frank v. ITT Com. Fin. Corp. (In Re Thompson Boat Co.), 230 B.R. 815 (Bankr. E.D. Mich. 1995). “Because the trustee’s rights are subject to ITT’s recoupment right, his motion for partial summary judgment will be denied, and ITT’s motion seeking the same relief will be granted.”
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