Tenancy by the entirety

A form of joint ownership of property by spouses. Neither spouse may sell the property or encumber it with liens, and the surviving spouse automatically gains the deceased spouse's share of the property. Creditors of only one spouse cannot satisfy their debts from property owned as tenants by the entireties.

Blog Posts

We have discussed Tenancy by the entirety in the following posts on our bankruptcy blog:

Joint Credit Cards - A Bad Idea

Oct 18, 2011

Adding to our recent post about the strength of tenancy by the entirety for owning martial property in North Carolina, I wanted to comment further about voluntary joint debts of spouses. Real estate, such as houses, owned by spouses as a tenancy by the entirety cannot be attached to and sold by a creditor of only one spouse to satisfy unpaid debt of that spouse.

Read More ...

Spouses Without Income, The CARD Act, and Bankruptcy

Dec 13, 2011

Non-working spouses and others without their own source of income are finding new difficultly when applying to open credit card accounts. This difficultly arises from regulatory amendments that went into effect on October 1, 2011 as a result of the recent CARD Act, requiring only independent ability to pay be considered in credit card applications. The change will likely have consequences in bankruptcy cases down the road, some positive and some negative.

Read More ...
Subscribe to RSS - Tenancy by the entirety