Creditor Debtor Law Essay
4. When property is exempt from execution, the judgment creditor cannot seize and sell that property to satisfy the judgment. States put these rules in place as a matter of public policy. …show more content…
8. A tenancy by entireties is a form of concurrent ownership of property that pertains to a husband and wife only. A tenancy in common is a form of concurrent ownership in which persons have undivided interest in property owned. Right of survivorship in the property is applicable to a tenancy in by entireties but not in a tenancy in common. In a joint tenancy there is also a right of survivorship as in a tenancy by entireties. The difference between the two is that prior to death, a joint tenant may transfer interest in the property by sale, pledge or gift. This cannot happen in a tenancy by entireties.
9. A trust is an arrangement whereby the owner of the property conveys title in the property to a designated trustee to be held by the trustee for the benefit of another party called the trust beneficiary. The first main party of a trust is the owner of the property, often called the grantor, trustor, or settlor. The second party is the trustee, who holds title