Which type of estate provides a husband and wife with equal possession rights, with the surviving spouse receiving full possession upon the death of the other?

The type of estate that provides a husband and wife with equal possession rights, and ensures that the surviving spouse receives full possession upon the death of the other, is known as Tenancy By The Entirety. This form of ownership is specifically designed for married couples, granting them a joint interest in the property, which includes rights of survivorship. This means that when one spouse passes away, the surviving spouse automatically retains full ownership of the property without the need for probate.

Tenancy By The Entirety also offers certain legal protections, such as shielding the property from claims made by individual creditors of either spouse, which is a significant advantage in financial planning. This unique characteristic emphasizes the unity between the married couple in ownership rather than treating the property as simply shared assets, as seen in other forms of concurrent ownership.