TN Underwriting Summary

Tennessee Tenancy by Entirety

Tenancy by the entirety is presumed whenever husband and wife take title together. No express statement is required.
Conveyance from one to T by E status may be done by direct conveyance without a "strawman" but conveyance should state intent to create T by E. T. C. A. § 66-1-109
A conveyance from A to B ( instead of from A to A and B) where A and B are married creates a tenancy by the entirety so long as the intent of the conveyance is to create a tenancy by the entirety is clearly expressed in the Deed. Bible v. State, 26 McCanless 361 (1968) citing T. C. A. § 66-1-109.
Between 1914 and 1919, a conveyance to Husband and Wife created a tenancy in common, not a Tenancy by the Entireties.

Joint Tenancy

Tennessee has by statute deviated from the common law rules of Joint tenancies. By statute, they provided that a joint tenancy does not automatically include a right of survivorship in T. C. A. § 66–1–107. The courts made clear that an express statement in a deed does create a survivorship interest regardless of the type of tenancy.

The statute providing that an estate in joint tenancy shall not descend to surviving tenant does not abridge the right of the owner of property to expressly provide for survivorship by deed. Williams' Code, § 7604. Jones v. Jones, 1947, 206 S.W.2d 801, 185 Tenn. 586.

Since the enactment of the statute providing that an estate in joint tenancy shall not descend to surviving tenant, a tenancy in common results if no contrary intent is expressed regardless of presence of unities of time, title, interest, and possession, and, when the intent to establish an estate by survivorship is clear, the existence or nonexistence of the unities becomes immaterial. Williams' Code, § 7604. Jones v. Jones, 1947, 206 S.W.2d 801, 185 Tenn. 586.

Homestead

To insure refinances of investment property that is in the name of one spouse only:

1. A notarized affidavit from husband that these are rental properties; and

2. A clause in each deed of trust stating at the end of the legal description stating “This property is not used as a personal residence”.