Tenants by Entireties Exemption From Federal Criminal Restitution

Jon Alper Tenants By Entireties

When a court finds that a client has improperly taken money from consumers or investors in violation of federal or state laws the court may order restitution to the “victims” . Restitution orders require the debtor to pay money to the government agency on behalf of the victims. Ordinary asset protection may not protect against restitution.

Selection of Joint Tenancy Does Not Overcome Presumption of Entireties Ownership

Jon Alper Tenants By Entireties

One of my clients asked me to review his applications and titling of his financial accounts to make sure he properly registered his accounts as tenants by entireties. In Florida, a joint marital account with rights of survivorship is presumed to be held as tenants by entireties unless the debtor has shown his intent to disclaim entireties ownership in favor …

Which States Recognize Tenants by Protection?

Jon Alper Tenants By Entireties

One of my married clients this week had recently moved to Florida to seek protection from a large lawsuit. The client owned property jointly with his wife in several states including his previous domicile of Pennsylvania, a vacation home in North Carolina, and newly acquired joint property in Florida. The issue presented is whether these marital assets were all exempt …

What Constitutes A Joint Judgment For Tenants by Entireties Exemption?

Jon Alper Tenants By Entireties

Tenants by entireties assets are protected against a judgment against either spouse, but entireties assets are not exempt from a creditor holding a joint judgment against both spouses. Sometimes, there is an issue about what constitutes a “joint judgment.” This past week I dealt with the issue of whether a single party that holds separate judgments against both spouses can …

Court Dissolution Order’s Effect On Entireties Property

Jon Alper Tenants By Entireties

When one spouse is subject to a judgment their jointly owned property is exempt as tenants by entireties. If the couple gets a divorce, can the creditors of the debtor spouse levy upon property formerly owned jointly by the married couple because the divorce destroys the unities of entireties?

Can Parents Jointly Own Property With Child By Entireties?

Jon Alper Tenants By Entireties

An interesting tenants by entireties problem came up last week when advising a gentleman who lived in Colorado, but owned a Florida real property together with his elderly mother and father. The parents had purchased the property and added their son on the title to avoid probate in the event of the parents’ deaths.

Separate Judgments Against Each Spouse And Entireties Protection

Jon Alper Tenants By Entireties

Creditors who have a sizable claim against on spouse residing in Florida sometimes will assert creative theories to impose liability on the other spouse so in order to overcome tenants by entireties protection. When a judgment is against only one spouse the debtor spouse may protect all joint marital assets because marital assets are presumed to be owned as tenants …