It was long assumed that the midbody was simply a structural part of cytokinesis, and was totally degraded with the completion of mitosis. However, it is now understood that post-abscission, the midbody is converted into an endosome-like signalling molecule, and can be internalised by nearby cells.
This endosome is marked by MKLP1, and can persist for up to 48 hours once internalised into another cell. It is coated in Actin, which is slowly degraded by the internalising cell.