Tenancy by Entirety

Tenants by the Entirety

•  Must be married
• If one dies the other automatically owns the property – right of survivorship

Why: Creditors of an individual spouse may not attach and sell the interest of the debtor spouse

**only creditors of the couple can attach and sell the interest of the property

Difference from Joint tenancy – By the entirety you CAN NOT sell or give away interest in the property without consent of the other tenant

What people don’t know: A tenancy by entirety CAN NOT be reduced to joint tenancy or tenancy in common by conveyance of one spouse.  They must divorce or jointly deed out.