Special Ownership for Married Couples: Tenancy by the Entirety
If you are married, make sure you have the right from of ownership for your house and any other real estate. In some states married couples have a special way to jointly own property. This provides married couples an advantage over a regular joint ownership. Joint tenants must have equal ownership interests in the property. If one of the joint tenants dies, his or her interest immediately ceases to exist and the remaining joint tenant owns the entire property. The advantage to joint tenancy is that it avoids having an owner’s interest probated upon his death. The disadvantage is that…
