The Short Answer

In Florida, a refinance-and-buyout is usually handled as a negotiated transfer where one co-owner (often an heir) pays the other owner(s) for their share and receives a deed for that interest—sometimes as part of a probate distribution. If the co-owners cannot agree, Florida law allows a court-supervised partition process that can include a statutory buyout option in certain cases.

What Florida Law Says

When a home is owned by more than one person after a death (for example, multiple heirs receiving an undivided interest), the law generally expects the ownership interests to be resolved either by agreement (buyout/transfer) or, if necessary, by a court process that divides or sells the property. In a probate context, Florida also allows partition specifically to accomplish distribution before the estate is closed.

If your situation involves inherited property and multiple beneficiaries, Florida probate law permits a partition petition so the court can determine whether the property can be divided fairly or whether it should be sold to avoid prejudice to the owners.

The Statute

The primary law governing probate-related partition for distribution is Fla. Stat. § 733.814.

This statute establishes that when two or more beneficiaries are entitled to undivided interests, the personal representative or any beneficiary may petition the probate court to partition the property (and the court may direct a sale if it cannot be partitioned without prejudice).

Separately, if the dispute ends up in a partition case involving “heirs property,” Florida’s partition law includes a court-supervised buyout mechanism. See Fla. Stat. § 64.207 (cotenant buyout).

Related reading: How do I confirm whether a lien will affect an estate home sale before closing in Florida?

Why You Should Speak with an Attorney

Even when everyone agrees “one person will refinance and buy out the other,” the legal and probate details can derail the deal or create title problems later. Legal outcomes often depend on:

• Strict Deadlines: If the matter turns into a court partition/buyout, the statutory buyout process includes short election and payment windows (for example, the buyout election deadline in Fla. Stat. § 64.207 is time-limited after notice).
• Burden of Proof: You may need clean proof of who owns what (probate status, deed history, homestead determination, liens/mortgage payoff figures) before a lender will refinance or a title company will insure the transfer.
• Exceptions: Probate and homestead issues can limit what can be transferred and how (for example, protected homestead and who has authority to sign). If a personal representative must act, their authority can depend on the will and court oversight (see, e.g., Fla. Stat. § 733.613 regarding a personal representative’s right to sell real property in certain circumstances).

Trying to handle this alone can lead to a failed refinance, an uninsurable title, or a dispute that escalates into litigation. A Florida probate attorney can coordinate the probate posture, the buyout terms, and the deed/title requirements so the transaction actually closes and holds up later.

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Disclaimer: This article provides general information under Florida law and does not create an attorney-client relationship. Laws change frequently. For legal advice specific to your situation, please consult with a licensed attorney.