What is 'tenancy by the entirety' and how does it work in Delaware?
Why A form of joint ownership available only to legally married spouses, with right of survivorship and protection from one spouse's individual creditors Is Correct
Answer B: A form of joint ownership available only to legally married spouses, with right of survivorship and protection from one spouse's individual creditors
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
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Key Terms to Know
Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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