Michigan Laws > Chapter 557 > Act 212 of 1927 – Joint Ownership of Personal Property in Joint Tenancy
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| § 557.151 | Evidence of indebtedness payable to husband and wife; ownership in joint tenancy |
Terms Used In Michigan Laws > Chapter 557 > Act 212 of 1927 - Joint Ownership of Personal Property in Joint Tenancy
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o