The bill amends the existing law regarding estates in dower and by the curtesy, as well as general provisions concerning real estate in Michigan. It introduces a new section, 36a, which prohibits foreign governments, state-sponsored enterprises, or individuals acting on their behalf from purchasing or acquiring farmland in the state. However, those who already own farmland before October 1, 2023, are allowed to retain their holdings but cannot acquire additional farmland. The bill also clarifies definitions related to "foreign government," "farmland," and "controlling interest," among others.

Additionally, the title of the law is updated to include prohibitions on certain foreign acquisitions or ownership of real estate. The amendments to sections 35 and 36 specify that aliens may acquire and hold land, but with the new provisions in section 36a, there are restrictions on foreign entities acquiring farmland. The bill aims to protect local agricultural interests by limiting foreign ownership of farmland while ensuring that existing titles to land are not questioned due to the alienage of previous owners.

Statutes affected:
Senate Introduced Bill: 554.135, 554.136