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Tenancy by the entirety, also known as tenants by the entirety is a system in which spouses or legal partners share an equal interest in real estate. <\/b><\/p>
This means that both spouses own their home together, in like manner. It also provides for the right of survivorship, which means that if one spouse dies, full rights pass immediately to the other.<\/b><\/p>\n
Unlike a 50\/50 split ownership, both spouses own 100% of the home in a tenancy by the entirety. Under this type of ownership, both spouses have 100% undivided interest in the property.<\/b><\/p>
This also includes creditor protection. If either party dies, the surviving spouse will inherit the property in full, and the property will be protected from the creditors of each party. <\/b><\/p>
Therefore, if one spouse pays off the debt before he or she dies, the other spouse will not have to worry about losing his or her home if the creditors try to force repayment.<\/b><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t