Latest / Closing with Confidence, Clear Legal Insight for Central Florida Real Estate Deals
014: Florida Family Property Transfers: Protecting Your Homestead Exemption and Save Our Homes Cap
Chelsea Metka takes on one of the most common do-it-yourself tasks in Florida real estate: transferring a home to a family member. A parent adds an adult child to the deed, or a couple moves the house into a trust using an online form. Later, a tax bill or a letter from the Department of Revenue shows the homestead exemption is gone or documentary stamp taxes are due. Chelsea walks through each Florida deed type, from quitclaim to lady bird deeds, and explains why a recorded deed is so hard to undo.
She also covers how an existing mortgage can trigger stamp taxes when no money changes hands…
The skinny
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