tenancy by the entirety

tenancy by the entirety definition - business

tenancy by the entirety

A type of asset ownership limited to married couples in which each spouse holds an equal share of the asset, but neither may sell or give away an interest without the other's permission. If one spouse dies, the deceased's share automatically passes to the surviving spouse. Compare tenancy in common.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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