|
Tenancy by the entirety is a type of joint tenancy of property that
provides extra protections for married persons. If a husband and
wife own real property, Maryland law presumes a tenancy by the entirety
unless the deed states otherwise. However, creation of the tenancy
by the entirety occurs only if the five (5) unities of time, title,
interest, possession, and marriage are met. In essence, owners
must be married at the time of the deed to create the tenancy by the
entirety.
Tenancy by the entirety has all
the benefits of joint tenancy, i.e. right of survivorship, plus
additional protection against creditors. Such property is subject
only to creditors of joint debts of a married couple. Sale of the
property may not occur for individual debts of either spouse, except
pursuant of the federal tax-lien statute. Neither spouse can
convey their half-interest without the consent of the other spouse.
Under family law, tenancy by the
entirety property is considered marital property, regardless of the
source of funds used to purchase the property.
Back to index of articles
|
