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Asked Mar 26, 2008, 02:26 PM — 2 Answers
What is the definition of tenants by entirety

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charlotte234s's Avatar
charlotte234s Posts: 1,903, Reputation: 790
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#2

Mar 26, 2008, 02:46 PM
Tenants by Entirety:
A registration in which each owner has a full interest in the account. Upon the death of one owner, the account passes to the survivor. This registration is restricted to spousal accounts and is not available in all states.
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LisaB4657 Posts: 3,114, Reputation: 2498
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Mar 26, 2008, 06:00 PM


Ownership as tenants by entirety has the same legal effect as joint tenancy with rights of survivorship. If there are two people who own the property as tenants by the entirety that means that if one dies, the other one owns the property completely.

It applies to married couples only. A brother and sister can't own as tenants by the entirety. But they can own as joint tenants with rights of survivorship.
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