Yes, two people can own 100% of a property through a form of ownership called Tenancy by the Entirety (TBE). This type of ownership is available exclusively to married couples and allows each spouse to have an equal share of ownership on the home. Here are some important points to keep in mind about TBE:
Both spouses own the property equally – this means that neither spouse can sell or transfer their ownership share without the other’s permission.
Under TBE, the couple is considered one legal entity – this means that the property cannot be divided in a divorce or in the event of a creditor’s claim against only one spouse.
In some states, TBE is the default form of ownership for married couples – this means that if you don’t specify a different form of ownership when purchasing a home with your spouse, it will automatically be considered TBE.
To form TBE, both spouses must acquire ownership of the property at the same time and in the same legal document (such as a deed) – this means that you cannot change an existing form of ownership to TBE.
TBE is just one form of ownership available to married couples, and it’s important to consult a real estate attorney or financial advisor to determine which option is best for you.