A form of joint ownership in some states, including Arkansas, between husband and wife. When one spouse dies, his or her share of the asset automatically transfers to the surviving spouse. Probate is generally avoided.
An estate that exists only between husband and wife with equal right of possession and enjoyment during their joint lives and with the right of survivorship; i.e., when one dies, the property goes to the surviving tenant. Such ownership requires both to convey land at the same time and together, a judgment against only one does not attach as a lien against the title to the real estate, and the survivor takes title by survivorship, not by probate.
This joint property ownership is limited to married couples. Tenants By The Entirety enjoy special protection against joint property being seized by creditors of one of the joint tenants. p 44
A form of joint ownership in a marital residence (which is limited to husbands and wives) that provides for the right of survivorship, but does not allow judgement creditors of one spouse to foreclose on the interests of the other spouse, but without having a judgement against both spouses.
Real property owned as husband and wife with rights of survivorship.
A husband and wife own the property with the common law right of survivorship so, if one dies, the other automatically inherits.
A type of joint ownership reserved for married couples only with equal interest. In the event of a death by either spouse interest in the property passes to the surviving party.
Only married couples can take title in this form of ownership. Should one spouse die, his/her share is passed on to the surviving spouse.
A way for a married couple to own an asset together. Neither can sell his or her half without the consent of the other. If one is sued, a creditor cannot take away the property. If one dies, the property goes to the other without probate.
Spouses commonly use this form of ownership. Each spouse theoretically owns 100% of the property, but complete ownership will pass at the first death to the surviving spouse without tax and probate.