entirety

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Entirety

The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. Parceners, on the other hand, have not an entirety of interest, but each is properly entitled to the whole of a distinct moiety.

The word is also used to designate that which the law considers as one whole, and not capable of being divided into parts. Thus, a judgment, it is held, is an entirety, and, if void as to one of the two defendants, cannot be valid as to the other. Also, if a contract is an entirety, no part of the consideration is due until the whole has been performed.

entirety

noun accumulation, aggregate, all, amount, assemblage, collectiveness, collectivity, completeness, completion, comprehensiveness, congeries, ensemble, ennire amount, entireness, everything, exhaustiveness, gross, gross amount, inclusiveness, indiscerptibility, indiscerptibleness, intactness, lot, lump, mass, sum, total, totality, totalness, undiminished quantity, whole, wholeness
Associated concepts: entirety clause, tenants by the entirety, tenants in common
See also: aggregate, finality, sum, total, totality, whole

ENTIRETY, or, ENTIERTIE. This word denotes the whole, in contradistinction to moiety, which denotes the half part. A husband and wife, when jointly seized of land, are seized by entireties and not "pur mie" as joint tenants are. Jacob's Law Dict.; 4 Kent, 362; 2 Kent, 132; Hartv. Johnson, 3 Penna. Law Journ. 350, 357.

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Accordingly, the court held that as between the debtor and a third-party creditor (other than the financial institution into which the deposits are made), if the signature card or account does not expressly disclaim a TBE form of ownership, a presumption arises that a bank account titled in the names of both spouses is held as tenants by the entireties as long as the account is established by both spouses in accordance with the unities of possession, interest, title, and time and with right of survivorship.
However, if the debtor establishes that the financial institution did not offer a TBE form of account ownership or expressly precluded that form of ownership, then the debtor may prove by other evidence the intent by which the debtor and spouse held the account as tenants by the entireties.
Beal Bank is important for holding that if an account is held by both spouses and the unities exist, then a presumption arises that the account is held as tenants by the entireties and a creditor must prove that the account is not held as a TBE.
Equitable interests may also be held as tenants by the entireties.
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The Craft court failed to value the lien or measure the husband's interest in the entireties property, thus, leaving the measuring device to be determined on remand.
Hence, one tenant owner in tenancy by the entireties property lacks control.
Such marketability factors, or lack thereof, are similarly found in joint ownership of tenancy by the entireties property where there is no active market for resale of a partial interest.
Just as options may be valued, "survivorship" and the ability to sever tenancy by the entireties property may be valued.
Valuing interest in tenancies by the entirety under craft
Tenancies by the entireties often play a role in other areas of the law.
To prevent a negative impact upon other areas of the law, the entireties doctrine should only be eliminated as it relates to bankruptcy.
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The effects of this proposed statute would allow all unsecured creditors to share any unencumbered assets equally, pro rata, without regard to the entireties doctrine.
When the tenancy by the entirety doctrine meets the Bankruptcy Code: clash of the Titans

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