Tenancy by the Entirety
A form of co-ownership available only to married couples in some states, featuring rights of survivorship and protection from creditors of only one spouse.
Encyclopedia entry: Tenancy by the Entirety
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tenancy by the entirety
Tenancy by the entirety is a type of shared ownership of property recognized in most states, available only to married couples. Much like in a joint tenancy , spouses who own property as tenants by the entirety each own an undivided interest in the property, each has full rights to occupy and use it and has a right of survivorship . Tenants by the entirety also cannot transfer their interest in the property without the consent of the other spouse.
[Last reviewed in June of 2024 by the Wex Definitions Team
]
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.