Harry and Brenda are husband and wife. Using his funds, Harry purchases real estate which he lists as: "Harry and Brenda, tenants by the entirety with right of survivorship." If Harry dies first, all of the real estate will be included in his gross estate.

Question

Quizplus · Accepted Answer

Tenants by the entirety is a form of joint ownership in which both spouses hold title to the property jointly. Upon the death of one spouse, the surviving spouse automatically becomes the sole owner of the property. Therefore, the real estate would not be included in Harry's gross estate if he dies first.

Harry and Brenda Are Husband and Wife