Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Tenancy by entirety refers to the system where married couples may have the house title. Here, a partner may only change his/her property interest by taking the official consent of the other spouse. The partner who survives will get full property control in case of the demise of the other spouse. This system helps married couples get house titles in several regions and zones.
This system is applicable for real estate purchases by married couples in several areas and regions. Naturally, it will impact the selling rights of every property share for every tenant or owner. This will also influence the right of using the same as collateral or for meeting debts or other obligations. This system exists in India as well. Mutual consent, divorce, or death may lead to the tenancy by entirety system being legally dissolved or wound up.
