What is an Affidavit of Lost Document in Michigan?
Real estate transactions can be complex. They can become even more complicated when key documents are missing. Notably, in the event a real estate-related document was never recorded or has been lost in Michigan, an affidavit establishing facts affecting title to the property can be recorded. This document would serve as a substitute for the missing deed or mortgage. An affidavit of lost document can be a useful tool to help ensure a real estate transaction moves forward and delays caused by missing paperwork are avoided.
What are the Criteria for an Affidavit of Lost Document in Michigan?
Michigan law specifically allows for affidavits to be used in place of a lost document by statute. Significantly, MCL 565.451a authorizes the recording of an affidavit that states the facts surrounding the lost document. This statute also authorizes the recording of a document as to facts such as identity, marital status, or other facts about parties in the chain of title, clarification of errors or missing information and establishing facts relevant to ownership or transfer.
Specifically, an affidavit of lost document must include the following information:
- The property owner’s name
- A description of the lost item or property
- Details regarding the property
- A statement detailing the loss or destruction of the document
- Details concerning the reasonable efforts made to find the missing document
The affidavit of lost document must be signed by the owner and notarized in order to be legally valid. If the lost document is a mortgage, the affidavit must include the names of the mortgagor and mortgagee, a legal description of the property, the tax ID, and a statement specifying that the original document was signed and delivered.
Common Situations Where an Affidavit of Lost Document in Michigan is Used
Affidavits of lost document are commonly used when someone placed an unrecorded document in a file intending to have it recorded in the future. This can occur in cases involving the death of the original owner or when the debt related to a land contract or mortgage was to be paid in full and the file with the document to be recorded later becomes lost. However, in such scenarios, the transaction contemplated by the document did in fact occur; the paperwork is simply missing.
Contact an Experienced Michigan Real Estate Attorney
If you are involved in a real estate transaction, it’s essential to have a knowledgeable attorney by your side to ensure the process goes smoothly. With offices in East Lansing, Mt. Pleasant, Grand Rapids, and Detroit, The Gallagher Law Firm offers professional services for a broad scope of real estate matters. To learn more about how we can assist you, contact us online, call (517) 853-1515 or email bpg@thegallagherlawfirm.com.