When you own Florida property as Tenants in Common, each owner has a right to enter and use the entire property. Often one owner wants to sell their interest while another may not. This can lead to an action for partition where a court will order the property to be sold.
If the owners have an agreement that binds them and the future owners of the property from using a partition to break up or sell the property, the property will and owners will be protected from loosing their rights to use and access the property.
One additional advantage is that these agreements often reduce the value of one’s interest in the property because of the restriction on the ability to partition the property.
If you have Florida property that you would like to protect from being broken up or to reduce the value of you should contact a Florida Estate Planning Lawyer by Email