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Source Closely Held Corporations Closely Held Corporations Showing the closest available flashcard practice.
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Husband and Wife, while married, bought Lake House by a deed conveying the property "to Husband and Wife, husband and wife, as tenants by the entirety with right of survivorship." The jurisdiction recognizes tenancy by the entirety. Husband later borrowed $80,000 from Creditor for his separate business. Wife did not sign the loan. Husband then signed a deed purporting to convey his "one-half interest" in Lake House to Buyer. Wife did not join in the deed and did not consent.
Creditor obtained a judgment against Husband and sought to force a sale of Lake House. Before the sale occurred, Husband and Wife divorced. The divorce decree did not mention Lake House. Buyer and Creditor now each claim rights in the property. Wife argues that neither can reach any interest because she never signed anything.
Discuss the parties' rights before and after the divorce. Address tenancy by the entirety, unilateral conveyance, creditor rights against one spouse, effect of divorce, and the current interests of Wife, Husband, Buyer, and Creditor.

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