You need to know – What is a tenancy by the entireties?

YouNeedToKnowWeb500A tenancy by the entireties (also known as an estate by the entireties) is a fee simple estate for a husband and wife

The marriage is considered the owner of the property and each spouse has the right of survivorship

Thus upon the death of one, the surviving spouse will own the property

Whenever a husband and wife purchase property at the same time an estate by the entireties is automatically created if both names appear on the deed, provided no other form of ownership is specified

In the event of a divorce, ownership becomes a tenancy in common unless a court instructs otherwise