Brevard County · Buying
Buying with a partner or friend in Brevard County
Everyone on the move sees the same steps, dates and numbers.
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Buying with someone you trust can make a home possible sooner: two incomes, two savings accounts and two sets of hands. It can also bring up questions that feel awkward to say out loud. What if one of us wants out? What if one of us can’t pay? What happens if something happens to one of us?
Those questions are normal, and asking them is a sign of care, not distrust. People who talk them through before buying usually have a much easier time later, whatever life brings.
There is a clear path: agree on the money and the plan, choose how the deed is written, apply together with the lender, and put your agreement in writing with help from an attorney.
What’s different for you
- Agree on the plan. Everyone sees the same steps, dates and numbers.
- Decide how to own it. How the deed is written matters; an attorney can explain.
- Apply together. Your lender looks at everyone on the loan.
When you start in CloseHive from this page, your plan already includes these steps, along with the usual ones for buying in Brevard County. You always see what to do next, and your agent handles the how.
What to know
Florida’s starting point is ‘tenants in common’
When two or more people take title together, Florida law treats them as tenants in common unless the deed clearly says there is a right of survivorship (married couples have their own option, below). Tenants in common each own a share. Each person’s share passes under their own will or estate, not automatically to the other owner. If you want the other owner to receive your share when you die, the deed has to say so, and a real estate attorney or the title company can explain the wording.
You can write each person’s share
Co-owners don’t have to own equal shares. If one of you puts in more money, you can decide how that shows up, either in the deed or in a written agreement between you. Talk with a Florida real estate attorney about the best way to record it before closing.
Married couples have another option
Spouses can hold a home as tenants by the entirety, a kind of ownership only for married couples. Florida law says that if the marriage ends in divorce, the owners become tenants in common. If you are partners now and plan to marry later, ask an attorney whether your deed should change then.
Any owner can ask a court to divide or sell
Under Florida law, any co-owner can file a partition case, which asks a court to divide the property or order it sold. That is the main reason a written agreement matters. It can set a buyout process, a timeline and how a price is decided, so a disagreement doesn’t have to end up in court.
The lender looks at everyone on the loan
Lenders review each borrower’s income, assets, debts and credit record before a preapproval. One person’s lower credit score or larger debts can change the loan you are offered, so share your numbers with each other early. Being on the loan and being on the deed are separate questions; ask the lender and the title company who must be on each, and what each signer is responsible for.
Homestead tax savings are shared
Florida’s homestead exemption is for owners who make the home their permanent residence on January 1. When co-owners hold title, the exemption is split among the owners who live there, based on their shares. If only one owner lives there, the savings can be smaller, unless the deed gives survivorship. In Brevard, apply with the Property Appraiser by March 1.
A written agreement protects the friendship
A co-ownership agreement is a private contract between the owners. It often covers who pays what each month, how repairs are split, what happens if someone can’t pay, a buyout process, and what happens after a move, a marriage, a breakup or a death. It isn’t required to buy a home, but it keeps everyone on the same page.
Your options
What to gather
- A shared budget: what each person pays toward the down payment, closing costs and each month
- Each person’s free credit reports from AnnualCreditReport.com
- Each person’s pay stubs, W-2s or tax returns, and bank statements for the lender
- A decision on how the deed will be written, checked with an attorney or the title company
- A written co-ownership agreement: buyouts, moving out, missed payments and selling
- Wills or estate plans that match how you will hold title
- A plan for who applies for the homestead exemption, and by March 1
- One shared way to pay the mortgage, taxes, insurance and repairs on time
Mistakes to avoid
- Assuming the other owner inherits automatically. In Florida, unmarried co-owners are tenants in common unless the deed says otherwise. Choose survivorship on purpose if that’s what you want.
- Only planning for the good days. Agree in writing what happens if one of you wants to sell, can’t pay or moves out.
- Keeping a credit problem quiet. Share credit and debts with each other and the lender early, so underwriting holds no late surprises.
- Putting in different amounts with nothing written. If one person pays more, write down how that money is treated if you sell or one of you buys the other out.
Brevard County in numbers
- The typical home in Brevard County is worth about $339,600, and 77% of homes are lived in by their owners.
- Typical rent here is about $1,556 a month, including utilities.
Free help
Questions people ask
Can friends buy a house together?
Yes; how you hold the title and what happens if someone moves out are worth agreeing in writing.
Can friends buy a house together in Florida?
Yes. Friends, relatives and unmarried partners buy together often. What matters most is how the deed is written and what you agree in writing about money, moving out and selling.
What happens if one co-owner wants to sell and the other doesn’t?
Florida law lets any co-owner ask a court to divide the property or order it sold, called partition. A written agreement with a buyout process can give you a way to settle it without court.
Do both of us have to be on the mortgage?
Not always. The lender decides who must be on the loan, often based on whose income is used to qualify. Ask the lender early, and ask the title company who must sign at closing.
What does tenants in common mean?
It means each owner holds a share of the home, and that share passes to their own heirs, not automatically to the other owner. In Florida it’s the default for co-owners unless the deed says otherwise.
If my co-owner dies, do I get their share?
Only if the deed creates a right of survivorship, or you are married and own it by the entirety. Otherwise their share goes to their heirs or estate. An attorney can explain your case.
Can we both get the homestead exemption?
The exemption is shared among the owners who live in the home as their permanent residence on January 1, based on their shares. Ask the Brevard County Property Appraiser how it applies to your deed.
What if one of us pays more of the down payment?
You can show that in the deed shares or in a written agreement that says how the money is paid back if you sell. A real estate attorney can set it up.
Do we need a lawyer to buy together?
Florida doesn’t require one to buy a home. Because the deed wording and a co-ownership agreement matter so much here, many co-buyers have an attorney review them. The Florida Bar Lawyer Referral Service can help you find one.