What Does Tenants By The Entireties Mean In Estate Planning?
A special term used by some states when a husband and wife own property together. No other parties can own a share, this must be between husband and wife. When one spouse dies, that share will automatically pass to the survivor. In some cases, holding property this way can provide special protection from creditors.
Example Of Tenants By The Entireties In Regards To Estate Planning
My parents own their house as tenants by the entireties. They can’t add me to the deed without changing how they own the property.