(a) Any deed of conveyance of real property located in this state executed after the passage of this act by a married man directly to his wife or by a married woman directly to her husband shall be construed as conveying 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 fully and to all intents and purposes as if the marital relation did not exist between the parties to the deed.

(b)

(1) All deeds of conveyance of real property in this state executed prior to the passage of this act by an individual to his or her spouse shall be construed as conveying 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 fully and to all intents and purposes as if the spousal relation had not existed between the parties to the deeds.

(2) This subsection shall not be construed as applying to any deed which has been construed by any court of competent jurisdiction.

(c) The word "deed" as used in this section, shall be construed to include any and all instruments of writing affecting, or purporting to affect, the title to real property, either by way of conveyance or encumbrance.

(d) The purpose of this section is to empower married men to contract with their wives and married women to contract with their husbands in regard to real property in like manner and to the same effect as if married men and married women were unmarried.