In the New Hampshire Bar News, Sabrena Beavens gives an overview of Florida’s tenancy by the entireties law:
Florida’s housing market has consistently been at or near the top of the hottest markets during the last several years. Zillow named Tampa, Florida as the hottest city in the country for buying a home in 2022 with anticipated strong value growth, high job growth, high demand and fast- moving inventory. In addition, the demand for second homes has increased 87% from pre-pandemic levels according to real estate brokerage firm Redfin.
Married couples purchasing real estate in Florida may hold title as tenants in common, joint tenants with rights of survivorship or as tenants by the entirety (“TBE”). TBE, of course, is not recognized in New Hampshire. However, matters involving Florida real estate are already common given New Hampshire’s significant snowbird population, and current data suggests those numbers may increase. This article provides a refresher on ownership as tenants by the entirety and a summary of the advantages and disadvantages of TBE ownership.