Property Ownership
In Florida, 'tenancy by the entireties' is only available to:
ABusiness partners who own property together
BLegally married spouses✓ Correct
CAny two people who jointly purchase property
DParents and children who own property together
Explanation
Tenancy by the entireties (TBE) is a form of joint ownership available only to legally married spouses in Florida. It includes rights of survivorship and provides protection from the separate debts of either spouse — a creditor of one spouse cannot force a sale of TBE property.
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Key Terms to Know
Tenancy in Common
Co-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
State-Specific Concepts
DRE Regulation
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