The U.S. Supreme Court has ruled that same-sex partners have a constitutional right to marry, nationwide. The Court’s ruling takes away any previous ambiguity about the recognition of same-sex marriages in Florida. What does this mean for same-sex spouses who are purchasing real estate together?
Same Sex Tenancy by the Entireties
Same-sex married couples can now take title together as tenancy by the entireties. Formerly, same-sex couples were limited to tenancy with rights of survivorship and tenancy in common.
Tenancy by the entireties is a type of survivorship deed – when one of the parties dies the property passes automatically to the other without the need of probate. But holding the property as tenancy by the entireties, (formerly only available to “husband and wife”) has the advantage of providing creditor protection to the parties – judgments against one same-sex partner will not attach to property they hold as a married couple.
Furthermore, the Old Republic Title Co., formerly, Attorney’s Title Fund, has notified its member agents that it will treat any indication of marriage (i. e, a married couple, married to each other, husband and husband, wife and wife, etc.) as entireties property. This is big. The Fund is usually the last word on title issues in Florida and it is notoriously conservative.
If you have any questions, please contact the Law Firm of Debra G. Simms.