Property: land sales; property eligible for forfeiture; modify. Amends sec. 4702 of 1961 PA 236 (MCL 600.4702). TIE BAR WITH: HB 5928'26, HB 5929'26

This bill modifies Michigan's laws regarding the seizure and forfeiture of property connected to criminal activities. It directly affects property owners, creditors, and law enforcement agencies by clarifying which assets can be taken by the government. The legislation updates rules on what constitutes forfeitable property, specifically protecting primary residences of spouses and children unless they knew about and agreed to the crime, while also detailing protections for homeowners with unpaid land contracts and security interests. Additionally, it sets limits on how much money can be recovered from substituted proceeds, ensuring the government only takes the value of the original crime proceeds plus specific legal costs. The bill will only become effective if two related companion bills are also passed by the legislature.