Search

Tenancy by the Entirety States

  • Share this:
Tenancy by the Entirety States

Tenancy by the entirety is a special form of property ownership available to married couples. It protects property from creditors of just one spouse, but only if the state recognizes this form of ownership.

Not all states allow tenancy by the entirety, and some states limit it to real estate only, while others also allow it for personal property like bank accounts.

The chart below outlines which states recognize tenancy by the entirety and what types of property it applies to:

State Real Property Personal Property
Alaska Yes Yes
Arkansas Yes Yes
Delaware Yes Yes
District of Columbia Yes No
Florida Yes Yes
Hawaii Yes No
Illinois Yes No
Indiana Yes No
Kentucky Yes No
Maryland Yes Yes
Massachusetts Yes No
Michigan Yes No
Mississippi Yes No
Missouri Yes No
New Jersey Yes No
New York Yes No
North Carolina Yes No
Oklahoma Yes No
Oregon Yes No
Pennsylvania Yes Yes
Rhode Island Yes No
Tennessee Yes No
Vermont Yes No
Virginia Yes No
Wyoming Yes No

Each state may have its own specific rules about how tenancy by the entirety is created. Some states automatically assume property is owned this way if titled jointly by spouses; others require specific language in the deed or account documents.

Gideon Alper

About the Author

Gideon Alper is an attorney who specializes in asset protection planning. He graduated with honors from Emory University Law School and has been practicing law for almost 15 years.

Gideon and the Alper Law firm have advised thousands of clients about how to protect their assets from creditors.

Sign up for the latest information.

Get regular updates from our blog, where we discuss asset protection techniques and answer common questions.

Please enable JavaScript in your browser to submit the form

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by budgetbuddy.
Publisher: Source link