Re: Why Chat Local lawyer told me in BK they might take our property

Posted by lawguy (151.205.68.76) on February 11, 2003 at 13:48:24:

In Reply to: Re: Why Chat Local lawyer told me in BK they might take our property posted by LadynRed on February 11, 2003 at 09:53:58:

Wow, fascinating. I looked it up, and Missouri still recognizes tenancy in the entirety. Never would have thought it.

"'Tenancy by the entirety' is a form of ownership in property created by marriage in which each spouse owns the entire property, rather than a share or divisible part, and thus at the death of a spouse, the surviving spouse continues to hold title to the property." Rinehart v. Anderson, 985 S.W.2d 363 (Mo.App.W.Dist. 1998).

Very similiar to joint tenants with right of survivorship. Tenancy in entirety can only exist by and between a married couple. Joint tenancy does not have this requirement. A divorce will terminate a tenancy in entirety. Tenancy in entirety can not have a survivorship, as upon the death of one tenant the other's title remains whole. Joint tenants can have a right of survivorship. Biggest though is that a join or co-tenant only has a percentage interest in an undivided share of the property. A tenant in entirety has a 100% undivided interest in the property, as does the other tenant in entirety.

Its been abolished in most states becase, well, basically, its stupid. Very illogical and hard to deal with. Worked fine in the days of lords and knights. Not so fine in modern days of two-spouse incomes.

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