The three most common ways to hold title are Tenants by the Entirety, Joint Tenants with Right of Survivorship, and Tenants in Common.

This week we will discuss Tenants by the Entirety. This type of ownership is reserved specifically for married couples. If you are married, own real estate in Tennessee, and it states you are married on the Deed, it is presumed you hold title as Tenants by the Entirety.

The specific language used to create this is to list the two parties as Husband and wife, married, or to list the names of the two parties and write as tenants by the entirety.

Instead of holding the Real Estate as individuals this language uses the union of marriage to allow both parties to hold title together as one, bringing a whole new meaning to “what’s mine is yours.”

Tenants by the Entirety create survivor-ship rights in both parties. At the time of death of either spouse the real estate automatically vests with the surviving party. This is a type of rudimentary estate planning which prevents the headaches associated with ownership questions after death.