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Q. Do you and your wife hold title to your home as "Tenants by the Entireties"?
not quite sure what that means, we do have a mortgage.
If the medical bills cannot be paid, then the only relief is for your wife to file bankruptcy. Her share of the equity in the home will not be affected at all if the deed to the home is held as Tenants by the Entireties and if so, the Deed would reads as follows:
Ed ______________ and ______________________ , Husband and Wife, as Tenants by the Entirety
Only a husband and wife can hold title to real property as tenants by the Entirety and from a legal standpoint, it is held by both spouses as a single marital entity, not as individuals. As such, it cannot be divided, nor can it be reached by the crediors of your wife alone. Therefore, if your wife files bankruptcy, the house will be exempt property and will not be part of the bankruptcy estate and will not be available to creditors,
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if my deed does not read that way can I change it?
If you bought the house with your wife after you were married, your title on the Deed should read "Tenants by the Entirety. If it does not, then yes, you can change it,
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