Tampa deeds are a big part of any real estate transaction. A deed is a legal document that transfers or confirms the party that has an ownership interest in real estate property. Deeds are important documents, and it is crucial that you know which deed is important in your real estate case, and that you know how to fill it out accurately and completely. Below are a few of the most common types of Tampa deeds, and the functions they perform, and our Tampa deeds lawyer can help with all types of these deeds.
As their name suggests, corrective deeds are used when an original deed contains a mistake that needs correction. When a deed contains certain errors, such as a typo in the legal description of the property, it can result in real problems for the owner. When the mistake is significant, a corrective deed is necessary. However, there are times when a corrective deed is not necessary, such as when the mistake is as simple as an incorrect date. A corrective deed can correct mistakes that would otherwise render a deed invalid.
Lady Bird Deeds
Lady bird deeds allow a property owner to retain and use the property during their lifetime and have it automatically transferred to a new owner upon their death. Lady bird deeds allow surviving loved ones to avoid the probate process while still acquiring the property and becoming the new owner. Lady bird deeds are divided into two different categories. The first is the life estate, which gives you the right to remain in the property during your lifetime. The second part of a lady bird deed is the remainderman, which is the beneficiary that will inherit the property upon the original owner’s death.
Quit Claim Deeds
Like other types of deeds, a quit claim deed will convey any interest the old owner, known as the grantor, may have had in the property to a new owner, known as the grantee. Quit claim deeds are usually most appropriate when the grantee is a trust or LLC established by the grantor, or when the grantee is a family member. A quit claim deed does not include a warranty, or a guarantee that there are no defects on the title. Quit claim deeds also do not provide for the legal remedy of suing for damages if it is later found that the title does contain a defect.
Like quit claim deeds, warranty deeds also transfer ownership of a property from a grantor to a grantee. Unlike quit claim deeds though, a warranty deed guarantees that the title does not contain any defects. Under Florida law, if the title does contain a defect, a warranty deed allows the grantee to take legal action to recover damages for any harm sustained as a result of the defect.
We Can Provide All Your Deeds in Tampa
Regardless of the type of Tampa deeds you need, our attorneys at My Florida Deed can help. Call us today at 407-205-2906 or fill out our online form to schedule a meeting so we can advise on the type of deed you need, and assist you throughout the process.