Michigan Laws 557.111 – Ownership of property acquired jointly after good faith marriage
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Terms Used In Michigan Laws 557.111
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
If a marriage is contracted by 1 of the parties in good faith and without knowledge of a prior undissolved marriage of the other party, and if that other party predeceases the party who entered into the marriage in good faith, the real property and any land contract, bond, certificate of stock, mortgage, promissory note, debenture, or other evidence of indebtedness acquired jointly after the marriage by the parties, unless otherwise expressly provided by the parties, shall be considered at the time of the other party’s death to have been owned by the parties with full right of survivorship.