Tenants by Entireties

Tenants by Entireties (TEN ENT)

Joint ownership of property or securities by a husband and wife where, upon the death of one, the property goes to the survivor.

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Tenants by Entireties

Two or more persons who jointly own a property with rights of survivorship. In other words, a jointly-owned property with rights of survivorship does not become part of a decedent's estate; rather, the other tenants continue to own the property. Couples may be tenants by entireties on a jointly-owned house, for example. Likewise, two business partners may be tenants by entireties on a business property: if two persons own an apartment complex and one of them dies, the whole of the complex belongs to the co-owner and not the decedent's heirs. It is important to note, however, that the decedent's liabilities may remain attached to this property and may be used to pay off creditors, even if the creditor had nothing to do with the property in question.