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.