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2000 SESSION
(HB1503)AMENDMENT PROPOSED BY THE HOUSE COMMITTEE FOR COURTS OF JUSTICE
1. Page 1, introduced, line 16, after property.
strike
the remainder of line 16 and all of lines 17 through 21
insert
The principal family residence of a husband and wife that is held by them as tenants by the entireties and conveyed to their joint revocable or irrevocable trust, or in equal shares to their separate revocable or irrevocable trusts, shall have the same immunity from the claims of their separate creditors as it would if it had remained a tenancy by the entirety, so long as (i) they remain husband and wife, (ii) it continues to be held in the trust or trusts, and (iii) it continues to be their principal family residence.