What form of ownership exists when two or more people hold title with equal, undivided interests and the right of survivorship?

Joint tenancy. Upon the death of one joint tenant, their interest automatically passes to the surviving joint tenant(s), bypassing probate.

What are the four unities required to create a valid joint tenancy?

Time, Title, Interest, and Possession (TTIP). All four must exist simultaneously for joint tenancy to be valid.

What form of co-ownership is available exclusively to legally married couples in Florida and includes the right of survivorship?

Tenancy by the entireties. Both spouses are treated as one legal entity, and neither can convey their interest without the other's consent.

In a tenancy in common, what happens to a co-owner's interest when they die?

The deceased owner's interest passes to their heirs or devisees through their estate—there is no right of survivorship.

What is the key distinguishing feature of tenancy in common compared to joint tenancy?

Tenancy in common has NO right of survivorship; co-owners may hold unequal shares, and each owner can freely transfer their interest.

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Property Ownership – Florida Real Estate Salesperson Exam

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