Property Ownership
New Jersey recognizes tenancy by the entirety as a form of co-ownership. This form is available:
ATo any two people who jointly own property
BOnly to legally married couples and, in NJ, civil union partners✓ Correct
CTo business partners in a real estate venture
DOnly for commercial properties
Explanation
Tenancy by the entirety in New Jersey is available only to legally married couples (and civil union partners). It provides right of survivorship and protects the property from the individual debts of either spouse.
Related New Jersey Property Ownership Questions
- In NJ, which of the following would constitute a 'cloud on title' that should be resolved before closing?
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- In NJ, a 'certificate of title' (as opposed to a title insurance policy) provides:
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