555.3 Right to possession deemed legal estate. Sec. 3. Every person who, by virtue of any grant, assignment or devise, now is, or hereafter shall be entitled to the actual possession of lands, and the receipt of the rents and profits thereof, in law or in equity shall be deemed to have a legal estate therein, of the same quality and duration, and subject to the same conditions as his beneficial interest. History: R.S. 1846, Ch. 63 ;-- CL 1857, 2633 ;-- CL 1871, 4116 ;-- How. 5565 ;-- CL 1897, 8831 ;-- CL 1915, 11567 ;-- CL 1929, 12969 ;-- CL 1948, 555.3
Michigan Legal Code