parties
Tenancy by the Entirety
A form of co-ownership available only to married couples, providing right of survivorship and protection from individual creditors.
In depth
Tenancy by the entirety is a special joint tenancy for spouses. The property cannot be partitioned, and individual creditors of one spouse cannot reach the property. Survivorship transfers full ownership to the surviving spouse upon death. Misconception: not all states recognize tenancy by the entirety; some abolished it for residential property. Practically, in FSBO transactions involving married couples, both spouses must sign the deed. Divorce typically converts the holding to tenancy in common. Tenancy by the entirety provides asset protection, making it popular in states like Florida for primary residences. Seller-finance investors who are married couples often hold investment properties as tenants by the entirety to shield from individual creditors.
Educational content only. Definitions reflect typical usage in US owner-finance and FSBO transactions; statutes and case law vary by state. Consult a licensed real-estate attorney for fact-specific guidance.