Property Ownership in Florida: Tenants in Common

We are continuing our series on different types of property ownership in the state of Florida. As estate planning attorneys, it is our job to ensure that your real property is set up in a way that respects your ultimate wishes.  There are three ways in which real property ownership can occur in the state of Florida.  Our previous article covered Tenancy by Entirety.  Today, we will take a look at Tenants in Common.

Tenants in Common is real property that is shared among more than one owner.  Each owner possesses a certain percentage of the real property, and their interest can be sold or transferred at any time without the other owner’s permission.  Property with multiple owners is considered Tenants by Common by default unless: 1) there exists a deed that says the owners are joint tenants with rights of survivorship; or 2) the property falls under Tenants by Entireties as discussed in our previous article.

Our next article will cover the third way to own property in the state of Florida – joint tenancy with rights of survivorship.

If you need an estate planning lawyer in The Villages area, the Pittman Law Office is here for you.  Our estate planning attorneys and probate lawyers are exceptionally qualified and are committed to providing you with personalized service. Remember, not every Florida estate planning attorney is equal.  We invite you to experience the Pittman Law Office difference.  Give us a call to schedule an appointment with one of our estate planning attorneys or probate lawyers today!