Happy Friday!
Let’s talk about a topic that often gets overlooked but can have serious consequences if misunderstood — vesting.
As a real estate professional, it's crucial to help your clients understand how they take title to a property. Especially in Florida, the type of vesting your client chooses determines things like ownership rights, creditor protection, and whether their interest avoids or goes through probate.
Here’s a quick breakdown of the three main vesting options for individuals in Florida:
Tenants by the Entirety (married couples only):
Offers built-in creditor protection — a creditor of just one spouse cannot go after the property. It also includes right of survivorship, meaning ownership automatically transfers to the surviving spouse without the need for probate.
Joint Tenants with Right of Survivorship:
Each party owns the property equally, and when one person passes, their share automatically transfers to the other joint tenants. However, all parties must agree to sell — no one can sell their share independently.
Tenants in Common:
Each person owns a defined portion of the property, which they can sell or bequeath independently. If one passes away, their share becomes part of their estate — and goes through probate unless otherwise planned for.
Whether your clients are business partners, aging parents and adult children, or a couple planning their first home — these choices matter.
Even married couples may opt for Tenants in Common in cases of blended families or when they want their interest to go to their children. These conversations aren’t always easy, but they’re essential to avoiding confusion, delays, or even legal disputes down the line.
If you’re not sure which vesting method fits your client’s needs, we recommend speaking with a real estate or estate planning attorney. And if you need help pulling vesting deeds before taking a listing, just reach out — we’re happy to assist.