An estate that is held by a husband and wife is called?

An estate held by a husband and wife is classified as tenancy by the entireties. This form of ownership is unique to married couples and provides specific legal protections and benefits. For instance, tenancy by the entireties allows for the property to be treated as a single entity owned jointly by the couple, rather than as individual shares. This means that neither spouse can unilaterally transfer their interest in the property without the consent of the other. Furthermore, in many cases, this form of ownership offers protection from creditors, as creditors of one spouse cannot reach the property if it is titled in both names.

In contrast, joint tenancy typically involves shared ownership with the right of survivorship among multiple owners but is not limited to married couples. Tenancy in common allows multiple owners to hold individual shares that can be transferred without consent of the other owners, which differs from the unified nature of tenancy by the entireties. A life estate, on the other hand, is a legal arrangement where ownership is held for the duration of a person's life, after which ownership passes to another party, which does not pertain specifically to marital ownership. This context underscores why tenancy by the entireties is the appropriate classification for property held by a husband and wife.