Tenants by the Entireties is a special deed form for married couples only. It creates a separate entity that owns the real property and it is protected from actions by individual creditors of the husband or the wife. Joint creditors of the husband and wife can still come after the property, but hey, just don’t co-sign anything with your spouse.
With a tenants by the entireties deed the property is protected in bankruptcy for an unlimited amount of equity. You are no longer limited to just the $75k homestead exemption protection. This is the deed form the legislature created for the protection of the marital home. There is a two year look back period in bankruptcy so you need to plan ahead and do it now.
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