Which Deed Is Right For Me And What Is The Cost?
Warranty Deed
Quit Claim Deed
Lady Bird Deed
Corrective Deed
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Why Choose MyFloridaDeed.com –
We’re Different!
Forms State-Specific To Florida!
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Recording Included!
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Attorney Reviewed!
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Florida Deeds
If you are going through a real estate property transaction, it is important to identify the type of deed you need because each type of deed meets a specific need. Below are some of the most common types of Florida deeds.
Quit Claim Deeds
A quit claim deed will transfer the interest the grantor (old owner), had in a property to the grantee {new owner). While a quit claim deed will transfer the grantor’s interest in the property, it does not provide any warranty or guarantee that there are no issues or defects on the title. Only a warranty deed can do that. As a result, quit claim deeds are not typically appropriate when the grantor and grantee are strangers. However, a quit claim deed is quite useful when transferring property to a relative, an LLC, or a trust.
Lady Bird Deeds
Lady bird deeds are special types of deeds outlined in the Florida Statutes. With a lady bird deed, an owner of real property can use and control the premises for their entire life. Upon their death, ownership of the property will automatically transfer to the owner’s beneficiaries without the need for probate. It is important to note that with a lady bird deed, you are not prevented from selling or mortgaging the property during your lifetime even when the remainderman, (person who will inherit the property), does not consent. There are many other benefits to this deed! Ask us!
Warranty Deeds
Warranty deeds transfer ownership of a property from the original owner, (grantor), to a new owner, (grantee). Essentially, a warranty deed ensures that the grantor has the legal right to the title and that there are no other ownership claims on the property. A warranty deed also promises the grantee that the grantor will defend against anyone coming forward in the future claiming an interest in the property.
Corrective Deeds
A corrective deed allows corrections to an original deed, although they are not always necessary. For example, if the original deed did not contain a date, or the date was wrong, this does not necessarily call for a corrective deed. On the other hand, if there is a typo in the legal description, this is a much more significant error and could impact the ownership of the property. In this case, a corrective deed is necessary. After a corrective deed is recorded, any invalidities of the original deed are rendered irrelevant and the deed is considered valid once again.
Documentary Stamps
The documentary stamp tax (“doc stamps”) is an excise tax imposed on certain documents executed, delivered, or recorded in Florida, which transfer an interest in Florida real property. There are several exceptions to the required tax but be sure to verify whether or not your deed is taxable. The tax is levied at 70 cents for each $100 of consideration for most recorded documents (i.e., deeds). For purposes of calculating doc stamps, consideration is defined as: money paid or agreed to be paid, the discharge of an obligation, and the amount of any mortgage, purchase money mortgage lien, or other encumbrance, whether or not the underlying indebtedness is assumed. It is important to note, that if the transfer involves multiple forms of consideration (a mortgage AND there is consideration paid) the amount taxed will be the sum of both. Doc stamp laws are complex and failure to pay or payment of incorrect tax carries stiff penalties so be sure to let us guide you.
Advice on the Florida Deed Right for You
If you are entering into a transaction involving real property, our attorneys at My Florida Deed can help. We will advise on the type of Florida deed that is right for your situation and help you through the process to ensure it is done correctly. Contact us to learn more about how we can help.
We don’t deliver or record your deed until it has been
reviewed by a Florida Real Estate Attorney!
We Offer More! Including:
We record your executed deed for you, so you don’t have to figure it out
Guaranteed legal accuracy of your deed
Peace of mind knowing your deed was prepared, executed and recorded properly!
Recording Included
After you have executed your deed before a Notary Public and returned it to us, we record it for you, the cost of which is included in your flat fee to our firm (not including documentary stamps to the State of Florida, if any).
Reviewed Directly By An Attorney
Direct Communication To An Attorney
If you have any questions or concerns, our attorneys are available to address them. In order to confirm proper preparation of your deed, an attorney may also reach out to you with any questions.
Legal Representation Available
We are a full-service real estate law firm, and can assist with any real estate matter including title insurance, real estate closings, escrow and contracts disputes advice, partition actions, and more.
Competitive Fees
In this online world transactions can be conducted with ever-increasing efficiency. Our goal is to prepare a legally operative deed for you at a competitive price, while delivering personalized service.
Up-Front Costs
Everyone hates hidden fees, which is why we don’t charge them. The only fee that you may owe, in addition to a flat fee to our firm, is documentary stamp tax (a kind of tax) to the Florida Department of Revenue.
Selecting The Type Of Deed
Our online forms will guide you through a brief series of questions that identify the property to be deeded, the current and new owners, and other specific information required to ensure that we draft a proper and complete deed to meet your needs. In most cases the form will take less than five minutes to complete.
To get started, the following information is needed:
- A copy of the prior deed if available.
- The physical address and county of the property.
- Legal names and addresses of the persons or business who will receive ownership in the property.
While it is not required that you have the prior deed, providing a copy will streamline the process of drafting your new deed. At the very least our firm will require the property address and county where the property is located in order to locate the prior deed in public records of the county where the property is located.
Our firm offers four types of deeds:
- Lady Bird Deed
- Quit Claim Deed
- Corrective Deed
- Warranty Deed
Do you already know what type of deed we will be preparing for you?
Reviews From Our Customers
PO Box 140292
Orlando, FL 32814-0292
info@myfloridadeed.com
321-379-7690
407-706-5349 Fax
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