Taking Title in Florida

Home , Remainder (law)

How you take title has multiple implications for you, your heirs, and others. The following are some general examples of some ways to take title in Florida. It is not a comprehensive list, nor should it be relied upon for someone’s decision in how to take title. Since there are many factors and implications involved in how someone takes title, a real estate attorney should always be consulted before making this decision.

Joint Tenancy with Tenancy in Common Tenancy by the Entirety Regular Life Estate Enhanced Life Estate Right of Survivorship

Deed to a married couple which Deed to natural individuals that does not state a diﬀerent type of expressly provides for a right of Deed to two or more grantees, who tenancy, such as “tenants in survivorship. All tenants must have are not married to each other, common.” the “4 unities” of time, title, interest A life estate is an estate measured The deed creating the life estate without reciting a type of tenancy. and possession. That is, they must by the duration of a natural person’s gives the life tenant the power to Or, deed to any two or more If the parties were not married to How Created acquire their JTWROS interest at lifetime with the remainder interest sell, convey and mortgage without grantees, “as tenants in common” or each other at the time of the deed the same time, by the same going to someone else. joinder of the remainderman. similar language without stating but later got married, a deed from instrument, in the same that there is a right of survivorship. themselves to themselves as a proportionate share and with all married couple would be necessary having the right of possession. to create a tenancy by the entirety.

Sarah Smith, a single woman, John Smith and Sally Smith, grantor, to Sarah Smith, for life, husband and wife without any liability for waste, with full power and authority in said life John Smith and Sally Jones, as joint Sarah Smith, for life, with remainder John Smith and Sally Smith, as an tenant to sell, convey, mortgage, tenants with rights of survivorship to Larry Smith John Smith, a single man, and Sally estate by the entireties lease or otherwise dispose of the Sarah Smith, for life, with the Jones, a single woman property described herein, in fee John Smith and Sally Jones, or their remainder to Larry Smith and Sam Sarah Smith and Sally Jones, a simple, with or without Examples survivor Smith John Smith and Sally Jones, as married couple consideration, without joinder of Sarah Smith, a single woman, tenants in common. the remainderman, and with full John Smith and Sally Jones, grantor, to Larry Smith, reserving a John Smith and Sally Smith (where power and authority to retain any JTWROS. life estate in Sarah Smith. John and Sally were in fact married and all proceeds generated thereby, to each other at the time of the and upon the death of the life deed). tenant, the remainder, if any, to Larry Smith, as grantee.

The life tenant has the full power Each co-tenant can transfer his or The life tenant can convey his or her and authority to convey or her own interest without joinder of life estate to someone else without mortgage not only the life estate the other, but a conveyance by a joinder of the remainderman, but but the entire interests in the co-tenant will sever the survivorship the person who is conveyed the life property to another party without Each co-tenant may transfer or aspect of the joint tenancy. Both spouses must execute a deed estate owns a life estate measured joinder of the remainderman. Transferability mortgage his or her own interest Example: A and B are in title as or mortgage to convey or mortgage by the original life tenant’s life, not of Interest without joinder of the other. JTRWOS. A conveys to C. B and C the property. measured by the grantee’s life. A remainderman can execute a will not have a JTWROS and upon deed or mortgage of that interest, the death of either, probate will be A remainderman can convey his or but that deed or mortgage is still necessary to transfer title of that her own interest without joinder of subject to the power of the life deceased tenant’s interest. the life tenant. tenant to sell or mortgage the entire ownership interest in the property.

A judgment lien against the life tenant would attach to that life tenant’s interest but would be extinguished upon the death of the A judgment against one tenant A judgment lien against one spouse A judgment lien against the life life tenant. would attach to that tenant’s does not attach to the property if tenant would attach to that life A judgment against one tenant interest and would need to be the spouses remain married. tenant’s interest but would be A judgment lien against the Judgment Lien attaches to that tenant’s interest cleared to convey clear title to the However, a federal tax lien against extinguished upon the death of the remainderman would attach but Attachment and would need to be cleared to property. Upon the death of a joint one spouse does attach. life tenant. A judgment lien against subject to the power of the life convey clear title to the property. tenant, a judgment lien against that the remainderman would attach to tenant to convey or mortgage the tenant’s interest is also A judgment lien against both that remainder interest, even if the entire interest during the lifetime of extinguished. spouses attaches. life tenant is still alive. the life tenant. Therefore, the life tenant can convey or mortgage the property without requiring the judgment lien against the remainderman to be released.

Upon the death of the life tenant, the remainderman becomes the owner of the property and a probate for the life tenant is not If the married couple was in fact Upon the death of the life tenant, necessary. Upon death of a co-tenant, title to married when they took title and the remainderman becomes the Necessity of that co-tenant’s interest would Upon the death of a joint tenant, remained married continuously and owner of the property and a If the remainderman is deceased, descend to the heirs and the surviving tenant becomes the without interruption until the death probate of the life tenant is Florida probate but the life tenant is still alive, the beneﬁciaries of the decedent and sole owner and a probate of the of the deceased spouse, the unnecessary. proceedings life tenant can convey or mortgage probate proceedings on the deceased joint tenant is surviving spouse becomes the sole upon the death the property without the need of a deceased tenant would be unnecessary. owner of the property and a Upon the death of a remainderman, of a party probate on the remainderman. necessary. probate of the deceased spouse is a probate of the remainderman will not necessary. be necessary. If both the life tenant and the remainderman are deceased, a probate will be necessary on the remainderman.