Severing Joint Tenancy With Right Of Survivorship In Florida
Description
How to fill out Florida Warranty Deed From Individual To Two Individuals As Joint Tenants With Right Of Survivorship With Retained Life Estate?
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FAQ
An Affidavit of Survivorship is a sworn oath in the form of a legal document. Within this document, a surviving owner of a jointly-owned property states they have rights of survivorship to the property.
A joint tenancy with right of survivorship has all the same features of a joint tenancy with the additional feature that when one joint tenant passes away, his or her interest in the real property will automatically pass to the survivor joint tenants by operational law.
Under Florida law, when you add the words ?right of survivorship? to a joint tenancy, that means full title to the real estate goes to the owner that survives the death of the other(s). The ?survivor? of the joint owners automatically owns 100% of the asset when the other joint owner (or owners) passes away.
In Florida, a joint tenancy can be terminated in several ways, including through the sale of the property, divorce, death of a joint tenant, or mutual agreement between the tenants.
In Florida, a partial owner of a property can force the sale of a property by filing a partition lawsuit. The term ?partition? refers to a court-supervised process to divide the jointly owned property. It is important to understand that the law may not force anyone to stay as the co-owner of a property.