Tenancy by the Entirety
A special form of joint property ownership available only to married couples. When one spouse dies, the property automatically passes to the surviving spouse. It also provides protection from one spouse's individual creditors in many states.
Legal Definition
A form of concurrent ownership recognized in some jurisdictions exclusively for married couples, in which each spouse owns an undivided interest in the whole property, with right of survivorship and, in most states, protection from the separate creditors of either spouse.
Practical Example
Mike and Susan buy their home as tenants by the entirety. If Mike is sued individually, creditors generally cannot force the sale of the home because Susan's interest is protected. When Mike dies, Susan automatically owns the entire property.