(1) A deed of conveyance of real property located in this state executed after the passage of this act by an individual to his or her spouse shall convey to the grantee named in the deed the entire interest of the grantor in the property conveyed, or the interest specified in the deed, as if the spousal relation did not exist between the parties to the deed.
(2) All deeds of conveyance of real property in this state executed before the passage of this act by an individual to his or her spouse shall convey to the respective grantees in the deeds the full and entire interests of the respective grantors in the deeds, or the interests specified in the deeds respectively, as if the spousal relation had not existed between the parties to the deeds.
(3) This subsection does not apply to a deed that has been construed by a court of competent jurisdiction.
(4) The word “deed” as used in this section includes instruments of writing affecting, or purporting to affect, the title to real property, either by way of conveyance or encumbrance.
(5) The purpose of this section is to empower an individual to contract with his or her spouse in regard to real property in the same manner and to the same effect as if the spousal relation did not exist between the parties to the deed.