Section 450.4504 - Membership interest as personal property(1) A membership interest is personal property and may be held in any manner in which personal property may be held. A husband and wife may hold a membership interest in joint tenancy in the same manner and subject to the same restrictions, consequences, and conditions that apply to the ownership of real estate held jointly by a husband and wife under the laws of this state, with full right of ownership by survivorship in case of the death of either.(2) A member has no interest in specific limited liability company property.1993, Act 23, eff. 6/1/1993 ;--Am. 2002, Act 686, imd. eff. 12/30/2002 .