Mich. Comp. Laws » Michigan Compiled Laws / Chapter 557 / Act 212 of 1927

Mich. Comp. Laws § 557.151

Evidence of indebtedness payable to husband and wife; ownership in joint tenancy.

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JOINT OWNERSHIP OF PERSONAL PROPERTY IN JOINT TENANCY


Act 212 of 1927


557.151 Evidence of indebtedness payable to husband and wife; ownership in joint tenancy.

Sec. 1.

    All bonds, certificates of stock, mortgages, promissory notes, debentures, or other evidences of indebtedness hereafter made payable to persons who are husband and wife, or made payable to them as endorsees or assignees, or otherwise, shall be held by such husband and wife in joint tenancy unless otherwise therein expressly provided, in the same manner and subject to the same restrictions, consequences and conditions as are incident to the ownership of real estate held jointly by husband and wife under the laws of this state, with full right of ownership by survivorship in case of the death of either.

History: 1927, Act 212, Eff. Sept. 5, 1927 ;-- CL 1929, 13071 ;-- CL 1948, 557.151

Notes of Decisions
Cited in 23 cases (3 in the last 5 years), 1957–2025 · leading case: Estes v. Titus
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Estes v. Titus (2008) mich · cites it 6× “17 Thus, “[p]roperty described in section 1 of 1927 PA 212 , MCL 557.151, or real property, held jointly by a husband and wife as a tenancy by the entirety is exempt from execution under a judgment entered against only 1 spouse.”
Zavradinos v. JTRB, INC. (2008) mich · cites it 23× “[4] It construed MCL 557.151 to mean that spouses hold a debenture by the entirety unless an intent to do otherwise is affirmatively expressed.”
Jahn v. Regan (1984) mied · cites it 3× “”) § 557.151. Section 557.151 provides: All bonds, certificates of stock, mortgages, promissory notes, debentures, or other evidence of indebtedness hereafter made payable to persons who are husband and wife, or made payable to them as endorsees or assignees, or otherwise, shall…”
Lewiston v. Kohut (In re Lewiston) (2015) mied · cites it 15× “§§ 557.151 and 600.5451(l)(n). Lewiston opposed Kohut’s objection.”
DeYoung v. Mesler (1964) mich · cites it 4× “Plaintiffs-appellants base their statement of question squarely upon statute thus: "Does PA 1927, No 212 (CL 1948, § 557.151 [Stat Ann 1957 Rev § 26.211]) which specifically provides that debentures made payable to husband and wife shall be held by them in joint tenancy in the…”
In Re Johnson (2002) mieb · cites it 5× “2207 provided for the exemption of the life insurance policies and that Mich. Comp. Laws § 557.151 provided for the exemption of the brokerage account.”
In Re Page (1999) miwb · cites it 2× “as Exhibit A to Denny and Patricia Strongs’ Brief in Support of their Objections to Debtor’s Claimed Exemptions); Mich.Comp.Laws Ann. § 557.151. II. JURISDICTION The court has jurisdiction over this contested matter under 28 U.”
Jason Robert Wylie and Leah S. Wylie (2021) mieb · cites it 69× “The Chapter 7 Trustee argues that these Michigan statutes do not apply to the Debtors’ rights to tax refunds. For the reasons stated below, the Court agrees with the Trustee, and will disallow the Debtors’ claimed exemptions.”
In Re Alan Wayne Raynard (2005) miwb “24 These exemptions include: (o) Property described in section 1 of 1927 PA 212 , MCL 557.151, or real property, held jointly by a husband and wife as a tenancy by the entirety, except that this exemption does not apply with regard to a claim based on a joint debt of the husband…”
Oster v. Clarkston State Bank (In Re Oster) (2012) ca6 “While true that Mich. Comp. Laws § 557.151 states that “bonds [and] certificates of stock .”
Wylie (2022) mied · cites it 17× “§ 557.151 that are held jointly by a husband and wife as a tenancy by the entirety.”
Theisen v. Theisen (1970) michctapp · cites it 2× “In issue is the construction of MCLA § 557.151 (Stat Ann 1957 Rev § 26.211): “All bonds, certificates of stock, mortgages, promissory notes, debentures, or other evidences of indebtedness hereafter made payable to persons who are husband and wife, or made payable to them as…”
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