This form is an Enhanced Life Estate Deed where the Grantor is an individual and the Grantees are five individuals. Grantor conveys the property to Grantees subject to a retained enhanced life estate. Further, the Grantor retains for life the right to sell, encumber, mortgage or otherwise impair the interest Grantees might receive in the future with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Florida Quit Claim Deed Form To Add Person
State:
Florida
Control #:
FL-07-82
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Florida Enhanced Life Estate Or Lady Bird Deed - Quitclaim - Individual To Five Individuals?
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FAQ
Adding a family member to the deed as a joint owner for no consideration is considered a gift of 50% of the property's fair market value for tax purposes. If the value of the gift exceeds the annual exclusion limit ($16,000 for 2022) the donor will need to file a gift tax return (via Form 709) to report the transfer.
You do not have to be an attorney to prepare a Florida quit claim deed. Absent attorney fees, your costs would only be the recording fees that the county comptroller charges and transfer fees if the property is mortgaged.
The original property owner adds a new co-owner by recording a deed that transfers the property to the original owner and the new co-owner. The deed must choose a form of co-ownership that includes a right of survivorship.
Go to the county recorder's office and get a quitclaim form. Fill out the form and sign it before a notary to make the transfer legal. Go back to your county recorder's office to get the deed recorded so it becomes part of the official property record.
You do not have to be an attorney to prepare a Florida quit claim deed. Absent attorney fees, your costs would only be the recording fees that the county comptroller charges and transfer fees if the property is mortgaged.