Question

Once Greg and Caitlin were married, they decided to purchase a home together. Since it was a shotgun wedding after a weekend in Vegas, they made sure that their ownership included the right of survivorship as well as protection from the other spouse attempting to sell the house from under them. The most likely form of co-ownership under which they would make this purchase is ______.

Answer 1

Tenancy by the entirety

Step-by-step explanation:

Tenancy by the entirety is a type of ownership over the property among the married couple. Each individual is the owner of the property and has an equal right over it. The possession of each spouse is shared mutually among the couple. In case, any of the couples dies, the entire possession of the property is passed on the other surviving partner. The possession of the property is owned by the couple as a single property.

In the given excerpt, Tenancy by the entirety would be the best option to purchase a property for Greg and Caitlin after they are married.