Michigan House Bill HB4774

Michigan 2023-2024 Regular Session

• Introduced: 6/15/23
• Refer: 6/15/23

Caption

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'23

Impact

The primary impact of this bill revolves around family law and property rights. By recognizing joint ownership among spouses in a more affirmative manner, HB4774 aims to simplify the property transfer process upon the death of a spouse. This legislative change will enhance protections for surviving partners, ensuring they retain ownership of shared assets without unnecessary legal complications. It is a significant step towards modernizing property laws to better reflect contemporary marital arrangements and equality between spouses.

Summary

House Bill 4774 proposes an amendment to the existing law regarding the joint ownership of personal property by spouses. This bill seeks to change the language of the statute to be more inclusive, replacing gender-specific terms with gender-neutral language. Specifically, it amends the 1927 Public Act 212, ensuring that personal property such as bonds, certificates of stock, mortgages, and promissory notes are held in joint tenancy by all married couples, providing rights of survivorship. This means if one spouse passes away, the surviving spouse will fully inherit the property without the need for probate proceedings.

Contention

While the bill seems to promote fairness in property ownership, some potential points of contention may arise regarding interpretation of joint tenancy rights and the implications for existing legal frameworks around inheritance and property claims. There may be discussions on how this new language will interface with other laws regarding marital property, especially during divorce or legal separations. Furthermore, the bill specifies that its enactment is contingent upon accompanying joint resolutions becoming part of the state constitution, which could lead to debates about its viability and the necessity for the constitutional amendments.