tenancy by the entireties

tenancy by the entireties

An estate in land allowed in some states and available only to husbands and wives. Each owns an undivided interest in the whole. When one dies, the survivor takes everything. Unlike a joint tenancy, however, a tenancy by the entireties cannot be destroyed and converted into a tenancy in common when one person attempts to sell his or her interest to an outsider. In addition, creditors of just one spouse may not execute on that interest. Any disposition or mortgage of the property requires both signatures to be valid.(In most states,even most judges may not divide the property or order it to be sold.)

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Tenancy by the Entireties

A tenancy by the entirties is a form of joint ownership that can be used only by a husband and wife. When one spouse dies, the other automatically becomes the owner of the entire property. Also see "Joint Tenancy" and "Tenancy in Common."