Tenancy By Entirety Protections

Summary

Kentucky recognizes tenancy by the entirety, which protects property owned by married couples from individual creditors of either spouse. However, joint debts can still affect the property. Additionally, the Homestead Exemption in Kentucky can protect a portion of a homes value from creditors, though it does not apply to all debts. Consulting a local attorney is advisable for specific legal advice tailored to your situation.

Full Conversation

Does Ky have tenancy by the Entirety that you put on title
Yes, Kentucky recognizes tenancy by the entirety. This form of ownership applies to married couples and provides certain protections. But, it's important to consult with a local attorney for specific advice.
Des it protect property against a spuses creditors
Yes, in Kentucky, tenancy by the entirety can provide protection against a spouse's individual creditors. They generally cannot reach the property. However, joint debts can affect the property. Consult a local attorney for your specific situation.
Does homestead exemption protect the property from creditors
Yes, in Kentucky, the Homestead Exemption can protect a portion of your home's value from creditors. This, however, does not apply to all debts. Consulting a local attorney would be advisable for more specific information.