ownership category for married couples called Tenants by the Entirety. This arrangement designates property as owned by the marriage rather than by either spouse individually. If one spouse passes away, the survivor automatically inherits full ownership of the property. Additionally, one spouse cannot sell the property without the other's consent. Once again, I'm not an attorney, so please consult with a qualified attorney who can explain the implications thoroughly. I'll mention that there are other categories of ownership: Tenants in Common and Joint Tenants (with or without Rights of Survivorship). Please get to know these terms, as they will impact property sales and purchases in North Carolina. When in doubt, consult an attorney!
79
Powered by FlippingBook