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. Joint Tenancy

    A type of property right where two or more people own or rent ...
  2. Holdover Tenant

    A renter who remains in a property after the expiration of the ...
  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. Tenants In Common - TIC

    The co-owners of an undivided interest in real property. Tenants ...
  6. Joint Tenants with Right of Survivorship ...

    A type of brokerage account which is owned by at least two people, ...
Related Articles
  1. Retirement

    State Laws Dictate Division Of Joint Property

    In breakup, divorce or death, community or common law will determine how property is divided.
  2. Budgeting

    Marriage: For Richer Or Poorer?

    Marriage can be like doubling an income, as long as you avoid doubling these expenses.
  3. Taxes

    The Tax Benefits Of Having A Spouse

    Check out the perks designed to promote and preserve your post-work savings - if you're married, that is.
  4. Personal Finance

    Marital Union; Financial Separation

    For a happy marriage, a financial separation may be the best solution.
  5. Home & Auto

    5 Rental Red Flags

    Know what to look for before entering into a rental agreement.
  6. Retirement

    Holding Titles On Real Property

    Find out how best to claim and convey ownership on your assets.
  7. Budgeting

    Take Advantage Of A Housing Crisis - Rent!

    When a housing crisis strikes, the big winners are often the renters.
  8. Personal Finance

    How To Rent Your Home So You Can Pay Your Mortgage

    If you own your home, but temporarily can’t afford the payments, and can’t a find cheaper place to live, temporarily renting your home may be the solution for you.
  9. Personal Finance

    To Rent Or Buy? There's More To It Than Money

    Your lifestyle, level of commitment and the trade-offs need to be carefully weighed.
  10. Home & Auto

    To Rent Or Buy? The Financial Issues

    Thinking of buying a home? We look at the initial and ongoing costs, as well as the so-called benefits.

You May Also Like

Hot Definitions
  1. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  2. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  3. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  4. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  5. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  6. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
Trading Center