Tenancy By The Entirety

AAA

DEFINITION of 'Tenancy By The Entirety'

A type of concurrent estate in real property that is unique in that it occurs where the owners of property are husband and wife. Each spouse has an equal and undivided interest in the property. In essence, each owns the entire estate. In the event that one spouse dies, the full title of the property automatically passes to the surviving spouse. A tenancy by the entirety permits spouses to jointly own property as a single legal entity.

INVESTOPEDIA EXPLAINS 'Tenancy By The Entirety'

A tenancy by the entirely can only occur when the owners are husband and wife at the time the title is received. A tenancy by the entirety may be terminated by the death of one spouse, by divorce (resulting in the parties becoming tenants in common) or by the mutual agreement of the husband and wife.

RELATED TERMS
  1. Holdover Tenant

    A renter who remains in a property after the expiration of the ...
  2. Joint Tenancy

    A type of property right where two or more people own or rent ...
  3. Breach Of Contract

    Violation of any of the agreed-upon terms and conditions of a ...
  4. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
  5. Lease

    A legal document outlining the terms under which one party agrees ...
  6. Tenants In Common - TIC

    The co-owners of an undivided interest in real property. Tenants ...
Related Articles
  1. State Laws Dictate Division Of Joint ...
    Retirement

    State Laws Dictate Division Of Joint ...

  2. Marriage: For Richer Or Poorer?
    Budgeting

    Marriage: For Richer Or Poorer?

  3. The Tax Benefits Of Having A Spouse
    Taxes

    The Tax Benefits Of Having A Spouse

  4. Marital Union; Financial Separation
    Personal Finance

    Marital Union; Financial Separation

Hot Definitions
  1. Halloween Strategy

    An investment technique in which an investor sells stocks before May 1 and refrains from reinvesting in the stock market ...
  2. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  3. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  4. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  5. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  6. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
Trading Center