We have long been in accord with that rule. In Marchand v. Marchand, 137 Or. 444, 3 P.2d 128, we said, at page 449: "While an estate by the entirety exists the husband and wife have an equal interest and when they voluntarily join in its disposal, the net proceeds should be equally divided." Thus we find the law impresses a different character of ownership in the proceeds resulting from the sale of an entirety holding, namely, that of a tenancy in common as between the spouses. If Mr. and Mrs. Panushka had in the lifetimes of both sold their motel for cash, or had received full payment due on the Lessman contract, or had, as the Stouts in Stout v. Van Zante, supra, sold the motel for part cash with notes and mortgage back to secure the balance, notes nevertheless being payable to both of them, such cash and notes would be owned by them as tenants in common, in the absence of an express agreement of survivorship between them.

In the alternative, and only in the event the above finding is in error, I find that the record conclusively shows that she was the owner of at least an estate by the entirety in property of a value of $55,000.00, in which each party had an equal interest. Marchand v. Marchand, 137 Or. 444, 3 P.2d 128. She claimed ownership to additional property, valued at $17,500.00, which was transferred to Howard.

"* * * the rents and profits of land owned by the entirety, being personal property, is the common property of the husband and wife, each owning one-half thereof." Also Marchand v. Marchand, 137 Or. 444, at page 449, 3 P.2d 128 at page 130: "While an estate by the entirety exists the husband and wife have an equal interest, and when they voluntarily join in its disposal the net proceeds thereof should be equally divided."

The reserved powers were exercised and to the extent of withdrawing real property by deeds to themselves as husband and wife, which created entirety interests in the property. Noblitt v. Beebe, 23 Or. 4, 35 P. 248; Marchand v. Marchand, 137 Or. 444, 3 P.2d 128. The trustee did not receive more than bare legal title to the property, and power to manage and operate the corpus was not conferred upon it during the life time of decedent.

In Wyoming no tenancy by the entireties in personalty has been recognized. The doctrine is limited to real property. Peters v. Dona, 49 Wyo. 306; In re Marchands Guardianship, (Ore.) 3 P.2d 128; Stout v. Van Zante, (Ore.) 219 P. 807; Bank v. Freile, (N.J.) 173 A. 93. In re Moran's Estate, 215 N.Y.S. 649.

Similarly, when real property owned by tenants by the entireties is sold, each tenant is presumptively entitled to half of the proceeds. Panushka v. Panushka, 221 Or. 145, 157, 349 P.2d 450 (1960); Marchand v. Marchand, 137 Or. 444, 449, 3 P.2d 128 (1931). The proceeds from a tort action based on harm to real property, it appears to us, are more akin to rents, profits, and proceeds derived from the sale of real property than to the property itself.