(15) Part II.C will discuss tenancy by the entirety
in Massachusetts in the latter half of the twentieth century.
However, it was not until the 18th century that tenancy by the entirety
was actually described as a property interest in the ninth edition of William Blackstone's Commentaries on the Laws of England, in which he states:
community property and tenancy by the entirety
, rest on thick personal
As amended, the second sentence of that section now reads as follows: Any real property, or any beneficial interest in a land trust, or any interest in real property held in a revocable inter vivos trust or revocable inter vivos trusts created for estate planning purposes, held in tenancy by the entirety
shall not be liable to be sold upon judgment entered on or after October 1, 1990 against only one of the tenants, except if the property was transferred into tenancy by the entirety
with the sole intent to avoid the payment of debts existing at the time of the transfer beyond the transferor's ability to pay those debts as they become due.
(158) Florida presumes that spouses who own property hold it as a tenancy by the entirety
. (159) Such married debtors "continue to benefit from the double protection of both the homestead and the tenancy by the entirety
creditor exemption." (160) While tenancy by the entireties and homestead serve similar functions, the main difference between the two is that Florida's constitutional homestead does not distinguish between joint debt and individual debt; it shields the property from all creditors for all debts.
If, instead, they owned the property as a tenancy by the entirety
, how could this form of ownership be terminated?
The bill specifies that a deposit or account made in the name of two persons who are husband and wife is considered a tenancy by the entirety
unless otherwise specified in writing.
Tenancy by the entirety
has fallen into disfavor in recent decades,
The IRS appealed and the Supreme Court granted certiorari, agreeing to hear the case and determine whether a tax lien could attach to property owned as tenancy by the entirety
In common law states, this arrangement is generally known as "tenancy by the entirety
." Qualified joint tenancy has certain income and estate tax advantages over joint tenancy involving non-spouses.
A legitimate position can be taken by a trade creditor for a guarantor in a community property state or a tenancy by the entirety
state that this alone is sufficient to justify asking for a spousal guaranty.
The rationale of the courts in Dancy, Kennedy, and McDonald does not apply to joint interests that cannot be unilaterally severed under applicable state law, such as interests held in tenancy by the entirety
. Under New York law, in tenancies by the entirety, the donee spouse's joint interest in the property that cannot be unilaterally severed is created on the date the tenancy is created.