What Is Tenancy by the Entirety?
Tenancy by the entirety is a special form of joint property ownership available only to married couples. The spouses own the property as a single legal unit, with a right of survivorship — when one spouse dies, the survivor automatically owns the whole, outside of probate. In Florida it also provides powerful protection against the creditors of just one spouse.
Key Features in Florida
- Right of survivorship — the surviving spouse takes full title automatically
- Creditor protection — a creditor of only one spouse generally cannot reach property held by the entireties to satisfy that spouse's individual debt
- Unity — neither spouse can sell or encumber the whole without the other's consent
How It Is Created and Ended
Florida presumes that real property conveyed to a married couple is held as tenancy by the entirety, and the form can also apply to bank accounts and other assets that meet the required "unities." It generally ends only by the death of a spouse, divorce (which converts it to a tenancy in common), or the spouses' joint agreement to transfer the property. Because of its survivorship and creditor-protection features, how a married couple holds title is an important planning decision.
Related Terms
- Ownership Interest — The rights this form defines
- Tenancy in Common — What it becomes after divorce
- Homestead — Another Florida creditor protection
Barnes Walker Real Estate
Barnes Walker's attorneys advise Florida married couples on titling, survivorship, and creditor protection. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC