Tenants By Entireties: Adding Spouse To Title
Although I have previously addressed the issue, I still receive questions about adding a spouse to the title of a currently owned checking account or vehicle to have the asset protected as tenants by the entireties. It doesn't work. Tenants by entireties ownership requires that the spouses acquire their interest at the same time during the marriage. When one spouse is added to title after the first spouse bought the asset, or opened the account, there is no tenancy by the entireties and the creditor of either spouse can levy on the property. The creditor of either spouse could reach only the interest of the debtor spouse which is most cases is fifty percent of the value. Alternatively, the creditor of the original owner could allege a fraudulent conveyance of fifty percent of the value to the second spouse acquiring an interest subsequent to the purchase.
Although, it would look like section 689.11, Fla. Stat. lets you create T by E ownership with respect to real property.