What happens to property owned as tenants by the entirety when one spouse dies?

Prepare for the Maryland Land Title Examination. Utilize flashcards and multiple-choice questions, each accompanied by hints and explanations. Ensure your success on test day!

When property is owned as tenants by the entirety, it means that both spouses hold an equal and indivisible interest in the property, and there is a right of survivorship. This means that if one spouse dies, the surviving spouse automatically retains full ownership of the property. There is no need for this interest to pass through probate or be transferred through a will, as the right of survivorship supersedes those processes. This legal arrangement is specifically designed to protect the surviving spouse's interest in the property, ensuring that they are not adversely affected by the death of the other spouse. Therefore, the correct understanding is that upon the death of one spouse, the surviving spouse retains the interest in the property without it being sold or divided among heirs.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy