Tenancy by the entirety is a legal term for when a married couple jointly owns property with the right of survivorship. It is spelled /ˈtɛnənsi baɪ ði ɪnˈtaɪrəti/ in IPA phonetic transcription. The first word, "tenancy," is pronounced with the stress on the first syllable, followed by the schwa sound in the second syllable. "By the entirety" is pronounced with a long "i" sound in "entirety." The final syllable, "-ty," has a strong stress, while the other two syllables are unstressed.
Tenancy by the entirety is a legal term used to describe a specific type of joint ownership arrangement for real property, typically applicable to married couples. It refers to a form of ownership where both spouses own the property as a single legal entity rather than as individuals. This means that each spouse has an equal and undivided interest in the entire property, and their ownership rights cannot be independently transferred, encumbered, or terminated without the consent of the other spouse.
The distinguishing feature of tenancy by the entirety is the concept of "right of survivorship." In the event of the death of one spouse, the surviving spouse automatically becomes the sole owner of the property with all rights, title, and interest. This ensures that the property passes directly to the surviving spouse without the need for probate or any involvement from the deceased spouse's estate.
Moreover, tenancy by the entirety provides certain legal protections. For instance, creditors of one spouse cannot attach or force the sale of the property to satisfy the debts of that spouse alone. Additionally, neither spouse can transfer or mortgage their interest in the property without the consent of the other spouse.
It is essential to note that tenancy by the entirety is not recognized in all jurisdictions, as it is primarily a common law concept. Therefore, individuals should consult relevant state or local laws to determine the availability, requirements, and limitations of this type of ownership arrangement.