Which ownership model is based on the principle that a marriage creates a single legal entity?

The ownership model that is based on the principle that a marriage creates a single legal entity is known as tenancy by the entirety. This form of ownership is specifically designed for married couples and operates under the notion that both spouses are considered one legal entity in the eyes of the law. Consequently, neither spouse can independently sell, transfer, or encumber the property without the consent of the other, further emphasizing the unified legal status of the couple.

Tenancy by the entirety also provides certain legal protections that other forms of ownership do not. For instance, it typically protects the property from individual creditors of one spouse, as the property is owned collectively by both spouses. This distinction highlights the importance of the marital relationship in determining property rights and ownership structures.

In contrast, community property refers to a system where all property acquired during marriage is owned jointly by both spouses but does not imply the creation of a single legal entity in the same way. Tenancy in common allows for ownership by multiple individuals without the necessity of a marital relationship, meaning each owner has an individual stake. Joint tenancy includes the right of survivorship but does not inherently recognize the unique legal status of a married couple.