Which ownership arrangement exists only between married persons?

The ownership arrangement that exists only between married persons is Tenants by the Entireties. This type of co-ownership is specifically designed for spouses and provides unique legal protections and benefits.

In Tenants by the Entireties, each spouse has an equal and undivided interest in the property. This means that neither spouse can sell or transfer their interest in the property without the consent of the other spouse, which offers a layer of security and stability for the ownership. In addition to the equality of ownership, this arrangement also provides protection from creditors. Generally, if one spouse has outstanding debts, creditors cannot pursue the property held as Tenants by the Entireties because it is considered a joint asset of the marriage.

This type of ownership contrasts with other forms such as Tenants in Common and Joint Tenancy. Tenants in Common allows for multiple owners, who can be unrelated individuals, and each owner can transfer their share independently. Joint Tenancy also involves multiple parties but is not restricted to married couples and includes the right of survivorship, which allows for a simpler transfer of ownership upon the death of one owner.

Trusts are legal entities that can hold title to property for the benefit of designated beneficiaries and are not limited to marital relationships. Hence,