In which type of property ownership do both spouses have equal, undivided interest?

The concept of Tenancy by the Entirety is specifically designed for married couples and provides both spouses with equal, undivided interest in the property. This form of ownership creates a unified whole, meaning neither spouse can sell or transfer their interest in the property without the consent of the other. This characteristic offers a level of protection for the property since it ensures that both parties must agree for any changes to be made.

Additionally, Tenancy by the Entirety includes the right of survivorship, meaning that if one spouse passes away, the surviving spouse automatically inherits the deceased spouse's interest in the property, thus maintaining complete ownership.

In contrast, Joint Tenancy and Tenancy in Common do not provide the specific benefits associated with marriage, such as the right of survivorship in the same manner. Joint Tenancy is typically open to any co-owners, not just spouses, while Tenancy in Common allows for unequal shares of interest and does not require unity in ownership. Community Property generally applies to property acquired during the marriage but may not always provide equal ownership rights in the same manner as Tenancy by the Entirety, particularly in states that recognize it differently.

This emphasis on equal, undivided interest between spouses in Tenancy by the Entire