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Tenancy by the Entireties Presumption

In Orlando, Tampa and throughout Florida, real property and personal property can be held as “tenants by the entireties.” This is critically important when discussing divorce, especially the topic of asset division or equitable distribution, because property held by the parties as tenants by the entireties is presumed to be a marital asset. Therefore, unlike separate property, property held by the parties as tenants by the entireties is likely to be subject to division during a divorce. Unlike some other types of ownership, property held as tenants by the entireties is only available to married couples.
Property held by the parties as tenants by the entireties is presumed to be a marital asset.

How do I Know if I have Property held as Tenants by the Entireties?

For property to be held as tenants by the entireties, the property must be subject to joint control and ownership and both spouses must have an identical interest in the property. Additionally, the spouses’ interest must have been granted at the same time during marriage, and by the same instrument. Fla. Stat. § 61.075(3)(a).
 
In order to have a tenancy by entirety:
  1. The property must be subject to joint control and ownership;
  2. Both spouses must have an identical interest in the property;
  3. The parties must have been married at the time they acquired the property;
  4. The spouses’ interest must have been granted by the same instrument; and
  5. The spouses’ interest must have began at the same time.

It is very important to determine if you have property held as tenants by the entireties because such property is subject to division between the spouses during a divorce. If you believe that you may have property held as tenants by the entirties, it may be wise to contact and experienced Orlando or Tampa divorce lawyer. 

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