vehicle tenancy by the entireties

[fmccarthy]

What is the name of your state (only U.S. law)? FL

Not going to bankruptcy.

For protection of an asset, specifically car or boat, from the creditor(s) of one of a married couple, how would one achieve the "Tenancy by the Entireties" protection some have mentioned on various websites?

Currently, a vehicle of the above nature is registered to one of the couple. If one titles it <husband> AND <wife> (as opposed to OR), would that be considered Tenancy by the Entireties? One of the elements, as I understand it is the title must commence at the same time and in the same instrument. If one re-registers, that is, new title certificate as well as registration, is that considered at the same time rather than an "addition"?

Thanks

 

[racer72]

Tenancy by the Entireties only applies to real estate.

 

[HomeGuru]

What is the name of your state (only U.S. law)? FL

Not going to bankruptcy.

For protection of an asset, specifically car or boat, from the creditor(s) of one of a married couple, how would one achieve the "Tenancy by the Entireties" protection some have mentioned on various websites?

Currently, a vehicle of the above nature is registered to one of the couple. If one titles it <husband> AND <wife> (as opposed to OR), would that be considered Tenancy by the Entireties? One of the elements, as I understand it is the title must commence at the same time and in the same instrument. If one re-registers, that is, new title certificate as well as registration, is that considered at the same time rather than an "addition"?

Thanks

**A: read up about joint ownership of non real property.

 

[fmccarthy]

Tenancy by the Entireties only applies to real estate.

Not true. It can apply to tangible and intangible personal property, as well. Bank accounts can be titled that way if the bank is savvy enough to offer it.

 

[fmccarthy]

**A: read up about joint ownership of non real property.

Thanks for the comment. Already have read up on the differences in titles of property. I need information of the specific technicality of the AND and OR title options in Florida. Other states are of no help as each one has their own little peculiarities. Even within Florida some argue that it is not available because of "non-survivability" , a requirement of TBE, though the Florida statute on titles clearly states that the options mentioned both survive the demise of one of the partners.

So, being told to read what I already have doesn't get to the nitty-gritty, sometimes resulting from case law. As usual, the devil is in the details. So, Florida people only please, preferably attorneys. I don't want to seem ungrateful but "My brother-in-law thinks...." doesn't help unless he has been through it.

 

[racer72]

Not true. It can apply to tangible and intangible personal property, as well. Bank accounts can be titled that way if the bank is savvy enough to offer it.

It is not titled tenancy by the entireties either. Maybe a term you might be looking for is fraudulent conversion.

 

[bigun]

Actually, in Fl. you can open a bank account as T by E.
Problem is, very few banks offer that account option .
If you do find one that will title an account T by E you have to be careful. All the new account documents as well as the signature card need to specifically state the acount is T by E.

Have no idea about an automobile.

 

[fmccarthy]

It is not titled tenancy by the entireties either. Maybe a term you might be looking for is fraudulent conversion.

It's fraudulent conversion/fraudulent transfer only if it takes place after one becomes aware of a judgement or the probability of a judgement. Also, in anticipation of bankruptcy. If no action is pending or imminent no fraud attends to the action.

 

[fmccarthy]

Actually, in Fl. you can open a bank account as T by E.
Problem is, very few banks offer that account option .
If you do find one that will title an account T by E you have to be careful. All the new account documents as well as the signature card need to specifically state the acount is T by E.

Have no idea about an automobile.

That is quite correct: one must state it and all documents must be consistent. In FL a married couple is presumed TBE and some people have thrown away the protection by checking "joint" which implies Joint with right of survivorship.

As an fyi, Wachovia offers TBE as a checklist item on accounts.

Automobiles are a technicality. As an interesting example, a boat can be considered a protected homestead if used as a primary residence in FL. That's just an illustration why one needs the technicalities specific to a jurisdiction.