3.2 Concurrent Ownership Unities & Florida Constitutional Homestead Protection

🎯 Key Florida Real Estate Statutory Takeaways

• Tenancy in Common features undivided interests with NO right of survivorship (passes to heirs via probate).
• Joint Tenancy requires the four unities (PITT: Possession, Interest, Time, Title) and express survivorship language.
• Tenancy by the Entireties is reserved exclusively for married couples; upon divorce, it automatically converts to Tenancy in Common.
• Florida Homestead protects primary residences from forced sale up to 1/2 acre inside a municipality and up to 160 acres outside, with no dollar cap.

Concurrent ownership occurs when two or more persons hold title simultaneously. Under Tenancy in Common, owners hold undivided fractional shares that can be unequal, with no survivorship rights; an owner's interest passes to their heirs upon death. Under Joint Tenancy with Right of Survivorship, when an owner dies, their interest vests immediately in the surviving co-owners. Joint tenancy requires the four unities of title (PITT): Possession (equal right to occupy), Interest (equal shares), Time (vested at the same time), and Title (same conveyance instrument).

Tenancy by the Entireties is an estate created exclusively between legally married spouses. Neither spouse can convey, encumber, or partition the property without the other's joinder. Under F.S. § 689.15, upon a final judgment of divorce, tenancy by the entireties terminates automatically and converts by operation of law into a tenancy in common with equal 50% shares.

Article X, Section 4 of the Florida Constitution provides unparalleled homestead protections against forced judicial sale by general unsecured creditors. Protected acreage is capped at 1/2 acre of contiguous land within an incorporated municipality, or up to 160 contiguous acres in unincorporated areas, with NO monetary equity ceiling. Homestead can only be foreclosed for: (1) real property taxes and assessments; (2) mortgages; and (3) construction/mechanic's liens for improvements.

Florida also provides ad valorem homestead property tax relief under F.S. § 196.031: a base $25,000 exemption from all taxing authorities, and an additional $25,000 exemption applied to non-school county/city taxes for assessed value between $50,000 and $75,000. The Save Our Homes (SOH) amendment limits annual increases in assessed value to the lesser of 3% or the Consumer Price Index.

⚠️ Common Pearson VUE / FREC Exam Traps

• Believing Florida homestead protects against mortgage foreclosure or property tax sales — mortgages, taxes, and mechanic's liens can force sale.
• Assuming Save Our Homes (SOH) freezes taxes forever — SOH caps annual assessed value increases at the lesser of 3% or CPI, resetting upon sale.
• Thinking joint tenants can hold unequal ownership percentages — joint tenancy strictly requires the Unity of Interest (equal shares).