Question of the Week

Among the following property ownership arrangements, which may be entered into by spouses only?

I. Community property
II. Limited partnerships
III. Tenancy in Common
IV. Tenancy by the entirety

(a) II and III only
(b) I and IV only
(c) I and III only
(d) III and IV only


Answer:

The correct answer is b):

Tenancy by the entirety and Community property are ownership arrangements that can only be between husband and wife. Partnerships and Tenancy in Common can have an unlimited number of participants.