Explore our Complete Guide to Tenancy by The Entirety and learn about joint property rights for couples. Discover the benefits, legal implications, and financial considerations of shared ownership.
Explore our Complete Guide to Tenancy by The Entirety and learn about joint property rights for couples. Discover the benefits, legal implications, and financial considerations of shared ownership.
A comprehensive guide to protecting your marital property rights through this unique form of joint ownership.
Tenancy by the entirety (TBE) is a form of property ownership exclusively available to married couples, where each spouse owns 100% of the property with special rights of survivorship. This ownership structure provides unique legal protections and benefits that distinguish it from other forms of property ownership.
Shields property from individual creditors, protecting your family home from personal debts.
Simplifies inheritance by automatically transferring property to the surviving spouse.
May provide advantages for estate tax planning and property tax assessments.
Prevents one spouse from selling or encumbering the property without consent.
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Only married couples can hold property as tenants by the entirety. This includes same-sex married couples following the Supreme Court's decision in Obergefell v. Hodges.
In case of divorce, the tenancy by the entirety is automatically converted to a tenancy in common, and each spouse typically receives a 50% interest in the property.
Individual creditors cannot seize property held in tenancy by the entirety. However, joint creditors (creditors of both spouses) may be able to place a lien on the property.