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466 F.2d 512

Docket No. 72-1295

Leone v. Putnam

Fifth Circuit Court of Appeals

Decided Aug. 23, 1972.

Fifth Circuit Court of Appeals · decided 1972-08-23

Cited by 3 later decisions — most recently June 1985

1 federal appellate · 1 state decisions

2 counsel of record

Key passage — most relied on by later courts

“"Under Florida law, when stock is held in the joint names of both spouses, even if purchased with the husband's own funds, an estate by the entireties is created unless there is an expressed intention to the contrary."”

quoted by 1 later decision, including 347 So. 2d 632 - In Re Estate of Silvian

Relies on Isbell Enterprises, Inc. v. Citizens Casualty Co. of New York · Newman v. Equitable Life Assurance Society of the United States · Matthews v. McCain

Good law ✅— No negative treatment on recordhow we know

Opinion by (per_curiam) · Decided 1972-08-23

View the full empirical analysis of this case →

¶1Summary Calendar.*

¶2Murray B. Weil, Jr., Miami Beach, Fla., for plaintiff-appellant.

¶3Gerald S. James, Fort Pierce, Fla., for defendant-appellee.

¶4Before WISDOM, GODBOLD and RONEY, Circuit Judges.

¶6PER CURIAM:

¶7We affirm the holding of the district court that it could not grant specific performance of a contract for the sale of corporate stock which was held by husband and wife in an estate by the entireties, when only the husband signed the contract to sell.

¶8Under Florida law, when stock is held in the joint names of both spouses, even if purchased with the husband’s own funds, an estate by the entireties is created unless there is an expressed intention to the contrary. Lapp v. United States, 316 F.Supp. 386 (S.D.Fla.1970); Porterfield v. Porterfield, 181 So.2d 16 (Fla.App.1965). See Matthews v. McCain, 125 Fla. 840, 170 So. 323 (1936).

¶9Such an estate is not subject to alienation or specific performance without the joinder of both owners. Trimble v. Hart, 130 Fla. 396, 177 So. 710 (1937); Naurison v. Naurison, 132 So.2d 623 (Fla.App.1961); Newman v. Equitable Life Assur. Soc., 119 Fla. 641, 160 So. 745 (1935); 17 Fla.Jur. Husband and Wife § 27, at 87 (“And since an estate by the entireties is vested in husband *513and wife as one person, neither spouse can sell, forfeit, or encumber any part of the estate without the consent of the other, nor can one spouse alone lease it or contract for its disposition.”).

¶10Affirmed.

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