Tenants by Entireties

Customer Agreement Can Prevent Tenants by Entireties Ownership for Bank Account

Customer Agreement Can Prevent Tenants by Entireties Ownership for Bank Account

Bank accounts owned by a married couple are protected from the creditors of either spouse if the account is owned as tenants by the entireties. When a married couple opens a new bank account, they can choose (usually on their signature card) how they want to title the account. Some…

Common Mistakes When Opening Tenants By Entireties Bank Accounts

Tenants by entireties bank accounts can be tricky. Florida law provides that a joint marital bank account is presumed to be an exempt tenancy by entireties account unless there is contrary evidence. The issue is what constitutes contrary evidence sufficient to overcome the legal presumption and make the bank account…

How to Open a Tenants by Entireties Account at a Florida Bank

In general, personal property acquired jointly by spouses in Florida is presumed to be owned as tenants by entireties. However, the rules can get tricky when it comes to opening a tenants by entireties bank account. There are many instances of people who incorrectly believed they had established exempt joint…

When Your Bank Does Not Offer Tenants By Entireties Accounts

Florida law protecting tenants by entireties bank accounts from garnishment against one spouse is based mostly on the Florida Supreme Court decision in the Beal Bank case. Most attorneys, on the debtor and creditor sides, believe that case established the rule that marital joint accounts with rights of survivorship are…

Court Says Joint Tax Refund Is Tenants By Entireties Asset

Courts have discussed, and disagreed, whether a individual judgment debtors interest in a joint marital federal tax refund is protected tenants by entireties property. The U.S. Supreme Court held that the IRS may garnish a joint marital tax refund to collect taxes owed by either spouse individually. Some bankruptcy courts…

Joint Tax Refunds May Be Tenants By Entireties Property

Courts have discussed, and disagreed, whether a individual judgment debtors interest in a joint marital federal tax refund is protected tenants by entireties property. The U.S. Supreme Court held that the IRS may garnish a joint marital tax refund to collect taxes owed by either spouse individually. Some bankruptcy courts…

Garnishment of Florida Debtor’s Entireties Bank Account in Another State

Tenants by entireties bank accounts are exempt under Florida law and cannot be garnished by a creditor of either spouse. However, entireties accounts of Florida residents are more difficult to enforce in courts outside of Florida. A creditor of one of our clients is attempted a creative way to garnish…