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It is important to note that the law does not specify how much consideration must be given. As a result, it's become a common practice to state a nominal consideration, such as $10, in the deed, regardless of the actual property value or purchase price.
Warranty deeds are the most commonly used and accepted deed type in Florida for standard real estate purchase and sale transactions. To ensure a deed qualifies as a warranty deed, an attorney should draft the document, as they will know what language to include to protect your rights.
Deed Requirements Must present a photocopy of a government issued photo identification for each grantor(s) and grantee(s) listed on the deed. "Prepared by" statement (name and address of the "natural" person preparing the Deed) Grantor(s) (Sellers-Party Giving Title) names legibly printed in the body of the deed.
If money is changing hands?such as when real estate is being sold?deeds will usually list a nominal amount of consideration (e.g., $10.00) or list the actual purchase price of the property. And some states, including Alabama and Michigan, require that the consideration be clearly stated.
Warranty Deed Rules and Requirements The name and address of the individual who prepared the deed. The name and address of the current owner (also called the grantor) The name and address of the new owner (also called the grantee) Original signature of the grantor (note: the grantee does not need to sign the deed)