Does Tenancy by the Entirety Apply to Your State?

Protect Your Estate Through Shared Ownership with a Spouse

Tenancy by the Entirety, or T by E, is a form of ownership where a married couple owns an undivided interest in a property.

Tenancy by the entirety isn’t recognized in every U.S. state. In such states, the concept of community property (sometimes referred to as marital property) is used in its place. Community property is essentially any property that’s considered to be “owned by the marriage” because it was acquired or created during marriage.

When concerned with the ownership of real property or personal property, tenancy by the entirety can look a lot like joint tenancy in that it permits undivided interest in the property for two parties. While the latter can apply in a non-martial situation, only married couples can be tenants by the entirety.

Each spouse enjoys full rights to occupy and use real and personal property. They also retain the right of survivorship to assume automatic and full control of it – bypassing probate – upon their spouse’s passing. Tenancy by the entirety also offers Asset Protection, as the assets of both spouses titled Tenancy by the entirety are not subject to the creditor of one spouse.

Importantly, when property is held in tenancy by the entirety, any property from one spouse must be transferred to the surviving spouse. In comparison, a joint tenant can freely break their tenancy at any time.

Reach Out to The Presser Law Firm for Asset Protection Assistance

A tenancy by the entirety attorney from The Presser Law Firm, P.A. can help you establish this form of ownership over your home or other personal property. Doing so can help your spouse avoid probate or risk ownership due to competing interests from your heirs. Protect the one you love most by reaching out to us for help.

Contact The Presser Law Firm, P.A. online today or by calling (561) 953-1050 to reach someone who can help.