Understanding the Different Types of Property Ownership in Florida

Owning property in Florida comes with decisions that go far beyond location and price. One of the most critical—and often overlooked—choices is how the property is legally owned. The form of ownership affects not only control and liability but also what happens to the property when an owner passes away.

At The Tanios Law Firm, P.A., we help individuals, families, and investors understand their options and choose the ownership structure that best aligns with their goals. Below is an overview of the most common types of property ownership in Florida and how Attorney Alex Tanios can help you make informed decisions.

1. Sole Ownership (Tenancy in Severalty)

This is the simplest form of ownership where one person holds title to the property individually. The owner has full control over the property, but the property becomes part of their probate estate when they pass away, unless it's otherwise transferred via a will or trust.

2. Tenancy in Common

When two or more people own a property together without rights of survivorship, they hold it as tenants in common. Each owner has a separate, undivided interest, which can be unequal. For example, one owner might hold 70% and another 30%.

• Key Feature: When one owner dies, their share passes to their heirs—not the other co-owners—unless otherwise arranged through estate planning.

3. Joint Tenancy with Rights of Survivorship (JTWROS)

In this form, two or more people own equal shares of a property, and when one owner dies, their share automatically transfers to the surviving owners.

• Key Feature: Avoids probate. Ownership must be clearly documented as “with rights of survivorship”; otherwise, it defaults to tenancy in common.

4. Tenancy by the Entirety

This type of ownership is exclusive to married couples in Florida. It gives both spouses equal and undivided interest in the property, with rights of survivorship.

• Key Features:

  • Property automatically passes to the surviving spouse upon death.

  • Creditors of one spouse generally cannot force the sale of the property to satisfy individual debts.

  • This form offers a level of asset protection unique to married couples.

5. Life Estate

A life estate allows one person (the life tenant) to use and live in the property for the duration of their life. Upon their death, ownership automatically transfers to another person or entity (called the remainderman).

• Key Feature: Often used in estate planning to transfer property outside of probate, while allowing the original owner to retain control during their lifetime.

Florida also recognizes “enhanced life estates” (Lady Bird Deeds), which allow the life tenant to retain the right to sell or mortgage the property during their lifetime, offering greater flexibility.

Selecting the right form of property ownership requires a clear understanding of your legal goals, family situation, and potential tax implications. Contact Attorney Alex Tanios at 407-276-8229 to provide you with personalized guidance to help:

• Choose the best ownership structure for your needs

• Prepare deeds and title documents correctly

• Plan for seamless transfers upon death

• Avoid unintended consequences in inheritance or liability

• Navigate disputes between co-owners or heirs

Whether you're buying your first home, adding a spouse to your deed, or planning your estate, The Tanios Law Firm, P.A. can ensure your property is titled in a way that protects your interests now and in the future.