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LSDefine

Simple English definitions for legal terms

estate by entirety

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A quick definition of estate by entirety:

An estate by entirety is a type of property ownership that only applies to married couples. When a married couple buys property together, they both own an equal share of it. If one spouse dies, the other automatically gets their share without having to go through a legal process. This type of ownership also protects the property from creditors if only one spouse owes money. However, both spouses have to agree if they want to sell or transfer the property. If the couple gets divorced or both agree, the estate by entirety can be dissolved and the property ownership changes to tenants in common.

A more thorough explanation:

An estate by entirety, also known as tenancy by the entirety, is a type of property ownership that is only available to married couples. When a married couple purchases property together, they each have an equal and undivided interest in the joint property. This means that if one spouse dies, the surviving spouse automatically absorbs their interest without the need for a probate process. Additionally, creditors cannot attach liens on jointly owned property if the debt belongs to only one spouse.

For example, if John and Jane are married and purchase a house together as an estate by entirety, they each own 50% of the property. If John were to pass away, Jane would automatically become the sole owner of the property without having to go through probate.

However, there are some restrictions to estates by entirety. Even if one spouse contributes more money towards the property's purchase, they still own the property equally and undivided. This means that one spouse cannot grant their share in the property to an heir in a will, as the surviving spouse would automatically gain total ownership of the property. Additionally, one spouse cannot transfer their interest in the property without the approval of the other.

While estates by entirety share many features of a joint tenancy, they are dissolved more easily. They can be terminated by one spouse's death, divorce, or by the agreement of both spouses. At this point, the owners become tenants in common.

estate | estate planning

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9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
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