Concurrent ownership: tenancy in common, joint tenancy, and tenancy by the entireties

Three forms of concurrent ownership

Concurrent ownership means multiple people hold interests in the same property at the same time. Compare possession, lifetime transfer, and the destination of an interest at death.

Tenancy in common

Each owner has an undivided interest in the whole property, not ownership of a physically marked portion. Each has a right to possess the whole, subject to the other cotenants' equal possession rights. Percentages may differ and interests may be acquired at different times. An owner may convey an individual interest. At death, that interest passes through the owner's estate, without survivorship in the other cotenants.

In Florida, section 689.15 makes tenancy in common the default for a conveyance to two or more, except for estates by the entirety, unless the creating instrument expressly provides for survivorship. Equal contributions alone do not create survivorship.

Joint tenancy with right of survivorship

The traditional four unities are time, title, interest, and possession: acquisition at the same time, through the same instrument, with equal interests and equal possession rights. Florida also requires express survivorship language. An intact survivorship interest passes to the surviving joint tenants rather than under the deceased owner's will.

A joint tenant's lifetime conveyance can sever the joint tenancy as to that share. The transferee holds it as a tenant in common; remaining joint tenants may retain survivorship between themselves.

Tenancy by the entireties

Florida recognizes this ownership for married spouses. It adds marriage to the four unities and treats the spouses as owning the whole together, with survivorship. One spouse cannot independently convey a separate half interest as if it were a tenancy in common.

Section 689.11 allows a titled spouse to create an entireties estate by conveying to both spouses, or to the other spouse with the purpose of creating the estate stated in the deed. Under section 689.15, dissolution of marriage converts an entireties estate to tenancy in common.

These are ordinary outcomes; special statutory exceptions can defeat survivorship. For example, section 732.802 denies survivorship to a cotenant who unlawfully and intentionally kills the other cotenant.

Exam approach: distinguish percentage ownership from possession and lifetime transfers from death transfers. Then check express survivorship language and marital status.