What is required to create a Joint Tenancy in Florida?

To establish a Joint Tenancy in Florida, a clear expression of the Right of Survivorship is essential. This legal concept means that upon the death of one joint tenant, their ownership interest automatically passes to the surviving joint tenants rather than being transferred according to a will or the laws of intestate succession.

This aspect of Joint Tenancy is crucial because it differentiates this form of ownership from other types, such as Tenancy in Common, where ownership does not automatically transfer upon death. The Right of Survivorship must be explicitly stated in the deed or title document to ensure that all involved parties understand and agree to this principle.

While having equal shares of ownership and agreement from all owners are important aspects of Joint Tenancy, they do not encapsulate the unique characteristic that defines it. A verbal agreement is not sufficient to establish a legal Joint Tenancy in Florida, as such agreements need to be documented in writing to be enforceable. Therefore, the significance of explicitly stating the Right of Survivorship is paramount in creating a Joint Tenancy.