Coraccio v. Lowell Five Cents Savings Bank
Supreme Judicial Court of Massachusetts
612 N.E.2d 650 (1993)
Relevant factsFree
Nancy Coraccio (plaintiff) conveyed property to herself and her husband as tenants by the entirety to secure a bank loan; her husband later took out a second mortgage for $65,000 without her knowledge or consent, defaulted, and the bank (defendant) initiated foreclosure. Coraccio sued for declaratory relief and damages, and the trial court dismissed her suit entirely.
IssueFree
Whether a spouse may sell, mortgage, or otherwise encumber his or her interest in property held by the entirety subject to the other's right of survivorship.