Property: personal; act allowing ownership of certain personal property as tenancy by the entireties; revise gender-specific language. Amends title & sec. 1 of 1927 PA 212 (MCL 557.151). TIE BAR WITH: HJR F'25

Also relevant to:LGBTQ+ / Queer Person of color

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Plain-English Summary

This bill changes existing law to update language regarding joint ownership of certain personal property between married couples. It replaces "husband and wife" with "spouses" throughout the act. The bill specifies that bonds, stocks, mortgages, and other debts made payable to spouses are held in joint tenancy with the right of survivorship, meaning the surviving spouse inherits the property. This act will only take effect if a related joint resolution to amend the state constitution is passed.

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