Michigan § 565.161 Annual statements to mortgagor; when required, contents.

Michigan Statutes

§ 565.161 — Annual statements to mortgagor; when required, contents.

Michigan § 565.161

Ch. 565CONVEYANCES OF REAL PROPERTY

Act 125 of 1966ANNUAL STATEMENTS TO MORTGAGORS (565.161-565.164)

This text of Michigan § 565.161 (Annual statements to mortgagor; when required, contents.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 565.161 (2026).

Text

ANNUAL STATEMENTS TO MORTGAGORS (EXCERPT) Act 125 of 1966 565.161 Annual statements to mortgagor; when required, contents. Sec.

1.Where, by the terms of a mortgage on real property, the mortgagor is required to make periodic payments which include sums to be allocated to an escrow account for the purpose of paying taxes, insurance or improvements to the property, or any combination of such purposes, the mortgagee or agent receiving the periodic payments shall furnish the mortgagor with a statement within 60 days of the close of the calendar year, showing the beginning balance of the escrow fund, total receipts received by the fund during the calendar year, an itemized statement of all expenditures from the fund during the calendar year and the balance in the fund at the end of the calenda

Free access — add to your briefcase to read the full text and ask questions with AI

ANNUAL STATEMENTS TO MORTGAGORS (EXCERPT) Act 125 of 1966 565.161 Annual statements to mortgagor; when required, contents. Sec. 1. Where, by the terms of a mortgage on real property, the mortgagor is required to make periodic payments which include sums to be allocated to an escrow account for the purpose of paying taxes, insurance or improvements to the property, or any combination of such purposes, the mortgagee or agent receiving the periodic payments shall furnish the mortgagor with a statement within 60 days of the close of the calendar year, showing the beginning balance of the escrow fund, total receipts received by the fund during the calendar year, an itemized statement of all expenditures from the fund during the calendar year and the balance in the fund at the end of the calendar year.