You need to know – What is a joint tenancy?

YouNeedToKnowWeb500A joint tenancy (also known as a joint estate) is a fee simple estate in which 2 or more persons have equal and undivided interests

There are four unities required to create a joint tenancy; all tenants must have:

  • equal rights of use and possession
  • equal and undivided interests
  • acquired their ownership at the same time
  • acquired their ownership by the same deed or conveyance

In Florida a true joint tenancy must have the right of survivorship explicitly stated on the deed

A joint tenant can sell the ownership interest during his or her lifetime.  The purchaser will be a tenant in common since the ownership interest was not acquired at the same time nor by the same deed as the seller

A joint tenancy has the right of survivorship; when one joint tenant dies his or her interest passes to the surviving joint tenants.  Thus a joint tenancy cannot be left in a will