Many homeowners ask how they can transfer their property to a family member. Property can be transferred in several ways, including being bought and sold. You have the right to give away or trade a property that you own. A quitclaim deed is the most convenient and quickest way to transfer a property in Florida. An attorney can help you with the quitclaim deed process.
A quitclaim deed is a legal document that transfers whatever interest the signer holds in the property being conveyed to another person. According to Florida Statute 695.26, a quitclaim deed must contain these certain elements:
- Name and address of person preparing the deed.
- Grantor’s name and address.
- Grantee’s name and address.
- Signatures of the grantors.
- Two witnesses for each signature/
- Notary acknowledgment with signature.
It is good practice to show the marital status of the grantor and grantee as well..
While a quitclaim deed appears simple to create, it is best to have this document drafted and reviewed by an experienced real estate attorney.
Using a Quitclaim Deed in Florida
When you use a quitclaim deed to transfer real estate, you are not making any promises or guarantees about the title. If the title is not clear or proper, the grantee can be granted no greater interest in the property than the grantor has to convey. Quitclaim deeds are often used between people who know and trust one another. Florida quit-claim deeds must be properly filed and the original document should be recorded in the county where the property is located. One of the parties will pay the transfer tax to the clerk of the court once the deed has been recorded. Florida’s tax rate is 70 cents per every $100 of the property’s sale price., except for Dade County, which has a tax rate of 60 cents per $100.
Ways a Quitclaim Deed is Used:
- As part of a divorce settlement;
- From single ownership to co-ownership with another;
- From one co-owner to another.
Contact a Real Estate Attorney
Transferring property to other individuals is rarely simple. Before you sign the property over through a quitclaim or accept property this way, speak with an experienced real estate attorney about the risks and benefits.
Florida National Title Services
Florida National Title is available to help with many of your real estate needs. Florida National Title Services works under the supervision of attorneys Michele Lewis and Richard S. Weinstein experienced real estate attorneys. They work to ensure the title of the home you desire is clear and marketable and that title insurance policies are properly issued.
Florida National Title Services provides expert title services. When you are renting, we can help with every step of the way. Florida National Title has years of experience guiding Florida homebuyers through the real estate purchase and refinance experience and have helped them solve the problems that come up in the process. We will decipher the “legalese” and explain what we need and why we need it each step of the way. The blogs to follow will address specific issues to guide buyers to understand the process better and to help them avoid many of the pitfalls. Call us at (561) 408-0729 or visit our website.
Florida National Title Services, LLC
250 S. Central Blvd., Suite 101
Jupiter, Florida 33458
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