Nonsense, right? Probate lawyers and family members want to know if that million dollar Miami mansion goes to probate or to the surviving spouse. The probate transfers the decedents title to the heirs. What happens to 30%? The decision solidified tenants by entireties protection forbank accounts in Florida. Does that create a presumption of a Florida tenancy by the entireties with a right of survivorship? This is my running list of significant trust, probate and guardianship related appellate opinions since 2005. When the heirs and buyer attend the closing, title insurance will require all heirs to execute deeds as Seller. Usually, if the property was not the primary residence of the decedent, some title insurance companies may allow the personal representative appointed for the estate to sign the deed at closing. A judgment creditor can use various creditor collection methods to levy or attack the value of the 50% interest of the debtor owner. Whether a spouse inherits a deed or it goes to the family in a probate are important. Surcharge Will Add 1% to Fla. Property Insurance Costs, New Homes Now One-Third of Housing Inventory. If the banks written account agreement states that joint marital accounts are not entireties accounts then a joint marital account may not be considered an exempt entireties account regardless of what is indicated on the signature card. Specific processes will vary based on applicable law. Unlike most personal property, the presumption of a tenancy by the entirety does not exist with automobile ownership. A deed transferring an interest in Florida real property between a husband and wife, including when a spouce's name is added to a deed, is subject to documentary stamp tax. Below are some commonly asked questions about tenancy by the entireties in Florida. Upon the death of a spouse who owns a homestead in Florida, Florida's Homestead Act provides guaranteed inheritance rights to the surviving spouse. Tenants by entireties is legal for all types of property in Florida. Owning property as tenants by entireties is one of thesimplest and most effectiveasset protection toolsavailable for debtors in Florida. This is not an entireties account. 732.7025 provides a simplified method for a spouse to waive his or her homestead rights in a deed. Chases judgment is against Jack alone, while Bank of Americas judgment is against both Jack and Jill. Furthermore, theLLC operating agreementshould ensure that the LLC interests actually operate as a tenancy by the entirety. All content is for general informational purposes only and is not intended to provide a complete description of the subject matter. In re Cauley, 374 B.R. Only tenancy by the entirety provides creditor protection. Please consult your expert for advice in those areas. Its a 2012 case from the Palm Beach appeals court. //-->