Property Ownership
In Florida, tenancy by the entirety is available only to:
ATwo or more co-owners regardless of marital status
BMarried couples, providing protection from individual creditors✓ Correct
CJoint tenants who specifically request the designation
DCorporations and LLCs owning Florida real property
Explanation
Tenancy by the entirety is a special form of joint ownership available only to married couples in Florida. It provides the right of survivorship and protects the property from the individual creditors of either spouse alone.
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Key Terms to Know
Joint Tenancy
Co-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.
Tenancy in CommonCo-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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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