Tenancy Status Varies by State
In Georgia, people who buy homes together typically choose to declare joint tenancy with right of survivorship. This status guarantees that upon the death of one owner, their ownership interest immediate transfers to the survivor, without the need for probate.
In Florida, homeowners can choose to declare tenancy by the entirety. In this circumstance, the ownership interest cannot be separated. That matters if one spouse opens a credit card on their own, and amasses $50,000 in debt. In Florida, a lien could not be filed against the house, because the debt did not apply to both spouses. In Georgia, a lien could attach to the property.
Loan officers who are licensed in Georgia and Florida will benefit from working with a closing attorney who is able to close loans in both states.