How Should You Hold Title When Buying a Home in Florida? What Every First-Time Buyer Needs to Know

When you sign your closing documents for the first time, you will see a question near the top of the deed that most first-time buyers completely overlook: *How do you want to take title?*

For a single buyer, the answer is simple — you own it alone. But if two or more people are on the purchase, the way that box is filled in can affect your asset protection, what happens when one owner dies, whether a creditor can come after the home, and even how your homestead exemption applies.

Florida has four primary ways to hold title to real estate. Choosing the wrong one is an easy and very common mistake — and it can be expensive to fix later.

What Does "Holding Title" Actually Mean?

Title is the legal concept of ownership. "Holding title" refers to the form of ownership recorded on your deed — the official document filed with the county clerk that says who owns the property and in what capacity. It is not the same as your mortgage (that is a debt instrument). You can be on the title but not the mortgage, or vice versa, though each arrangement carries different implications.

The method of holding title determines:

• Who has the legal right to sell or refinance the property
• What happens to the property when one owner dies
• Whether a creditor of one co-owner can come after the property
• Whether ownership passes through probate at death

Here is a plain-language breakdown of your four options in Florida.

What Is Tenancy by the Entireties — and Why Is It the Best Choice for Married Couples?

Tenancy by the entireties (TBE) is available exclusively to married couples in Florida. It treats the couple as a single legal entity rather than two separate owners.

The practical benefits are significant:

Creditor protection. If one spouse has a judgment against them — a lawsuit, a medical debt, a business liability — a creditor cannot place a lien on property held as TBE unless *both* spouses owe the debt. This is one of the strongest forms of asset protection available to Florida homeowners.

Automatic survivorship. When one spouse dies, the surviving spouse automatically inherits full ownership without any probate proceeding. There is no need for a will to accomplish this, and it happens immediately.

Homestead protection. Property held as TBE qualifies fully for Florida's homestead exemption, which caps annual property assessment increases and can save thousands in taxes each year. (For more on that, read our guide on Florida's Homestead Exemption.)

Florida law generally presumes that property transferred to a married couple is held as TBE, even if the deed does not say "tenancy by the entireties" explicitly. That said, your closing attorney should confirm this language is in place — never assume.

What Is Joint Tenancy with Right of Survivorship?

Joint Tenancy with Right of Survivorship (JTWROS) is available to any two or more people, regardless of marital status. It is the option most commonly used by unmarried partners, adult siblings buying together, or parent and child buying jointly.

The key feature is survivorship: when one joint tenant dies, their ownership interest automatically passes to the surviving joint tenant(s) without probate.

However, there is an important tradeoff. Unlike TBE, each joint tenant holds a separable individual interest. A creditor with a judgment against one joint tenant *can* pursue that person's share of the property. In some cases, that could mean a forced sale.

Florida statute requires specific survivorship language on the deed for JTWROS to apply. If the deed just says "to John Smith and Mary Jones," without "as joint tenants with right of survivorship" or substantially similar wording, the default falls to tenancy in common.

What Is Tenancy in Common — and Who Should Use It?

Tenancy in common is Florida's default form of co-ownership when no survivorship language is specified and the owners are not a married couple. It is the most flexible option and is common among:

• Business partners or investors
• Friends purchasing a home together
• Co-buyers with unequal financial contributions

With tenancy in common, owners can hold unequal shares. One person might own 60% while another owns 40%, reflecting how much each contributed to the purchase price. Each share can be sold, mortgaged, or transferred independently.

The critical difference from JTWROS: there is no automatic survivorship. When one tenant in common dies, their share does *not* pass automatically to the other owners. Instead, it goes through their will or Florida's intestate succession laws. This can create complications — and potential co-ownership with a stranger — if a co-buyer dies without a will that addresses the property.

Tenancy in common offers no creditor protection, and each owner's share is reachable by their individual creditors.

What Is Sole Ownership?

If you are buying the home alone, you hold title in your name only. This is straightforward and common for single buyers or situations where only one spouse qualifies for a particular loan program.

Note that in Florida, if you are married and buy a home as your primary residence in your name only, your spouse may still have homestead rights. Florida's constitution gives a married person's spouse certain protections related to the homestead — including the right to occupy the home. This can affect your ability to sell or refinance without your spouse's signature, even if they are not on the deed. Always discuss this with your closing attorney.

What Should Unmarried Co-Buyers Do to Protect Themselves?

Unmarried co-buyers — whether partners, siblings, or friends — should put serious thought into the title structure before closing, and ideally have a co-ownership agreement drafted by a real estate attorney that spells out:

• What happens if one person wants to sell and the other does not
• How ongoing costs (taxes, insurance, maintenance) are divided
• What happens if one owner dies
• The buyout process if the partnership ends

This is especially important if you are an unmarried couple who may marry later. Once you legally marry, you can retitle the property as tenancy by the entireties, which will then provide the full creditor protection that TBE offers. That retitling requires a new deed and should be done with legal guidance.

How Is the Title Decision Made at Closing?

At closing in Florida, your closing agent or title company will ask each buyer how they want to hold title. This information is then reflected on the deed, which is recorded with the county.

The closing process moves quickly, and it can feel overwhelming to make this decision on the spot. My strong recommendation: discuss it with your attorney before closing day, not during it.

Title decisions are also connected to your title insurance — a separate but equally important layer of protection. Read our explanation of how title insurance works in Florida if you have not already.

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Choosing how to hold title is one of those decisions that feels minor until something goes wrong. Get it right from the start, and you will never have to think about it again.

If you have questions about the homebuying process in Tampa Bay — from title decisions to down payment programs — I am here to help. I am Barrett Henry, REALTOR® with REMAX Collective, and I bring 23+ years of real estate experience to every buyer I represent.

Call or text (813) 733-7907 or reach out online to get started.