A bill to amend 1925 PA 126, entitled “An act to provide for the payment to the survivor of husband and wife, of land contracts, and of notes and other obligations secured by a mortgage, given as part of the purchase price of lands held as a tenancy by the entirety, and the vesting of the title of the mortgage or land contract in the survivor,” by amending the title and section 1 (MCL 557.81).
This bill proposes amendments to the 1925 PA 126, which concerns the rights of survivors in cases of land contracts and obligations secured by a mortgage between spouses holding property as a tenancy by the entirety. The amendment aims to ensure that upon the death of one spouse, the surviving spouse automatically receives payment of debts and interest, and the title of the mortgage or land contract vests in the survivor. The enactment of this bill is contingent upon the approval of either Senate Joint Resolution or House Joint Resolution F of the 102nd Legislature, as specified by the state constitution of 1963.
Introduced
by
Referred to the Committee on Government Operations
