Tenants by Entireties

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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.

Tenancy by the Entirety

The joint ownership of a property with rights of survivorship. In other words, a property with tenancy by the entirety does not become part of a decedent's estate; rather, the other tenants continue to own the property. Couples may be tenants by entirety on a jointly-owned house, for example. Likewise, two business partners may be tenants by entirety 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.

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