What aspect of real property defines 'tenancy by the entirety'?

Tenancy by the entirety is a specific form of joint ownership that is recognized only for married couples. This arrangement provides several unique characteristics, the most significant being that both spouses have equal and undivided interest in the property, and neither spouse can unilaterally transfer their interest in the property without the consent of the other. This legal framework serves to protect the property from claims by individual creditors of one spouse, making it a valuable consideration in estate planning and asset protection.

In contrast, ownership divided among multiple parties with equal shares refers to forms of ownership like tenants in common, where individuals can have different ownership shares and can transfer their interests independently. Exclusive ownership by a single individual is a description of sole ownership, which is not applicable in the context of tenancy by the entirety. Property owned separately by each spouse describes a different arrangement called separate property, which is also not aligned with the joint nature and protections of a tenancy by the entirety.