GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Tenancy by the Entirety


Synonyms:entire tenancy
Acronyms &
abbreviations:
TBE
Filed Under: estate-management, financial-banking, real-estate
Tags: legal, realty
 

Definition of tenancy by the entirety (TBE)

tenancy by the entirety (TBE)
1. A type of property ownership where each spouse owns an undivided interest in the property. Both spouses must consent if either wishes to modify his or her interest in the property. When one spouse passes away, the other holds on to the title.

Related Terms and Acronyms:

  • joint tenancy   When two people (typically spouses) both own an undivided interest in a property. If one joint tenant passes away, the other receives the title to the entire property.
  • jointly-owned property   A property held in the name of more than one person.
  • survivorship   The right of a person to secure ownership by reason of his/her outliving someone with whom s/he shared undivided interest in the land.

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