Equity Agreement Statement For Property In Miami-Dade

State:
Multi-State
County:
Miami-Dade
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

The Equity Agreement Statement for property in Miami-Dade is a legal document facilitating the cooperative investment in residential real estate between two parties, referred to as Investor Alpha and Investor Beta. This agreement outlines the terms of purchase, including the total purchase price, down payment contributions, and financing details, ensuring clear delineation of financial responsibilities. Additionally, it establishes the parameters for living arrangements, equity sharing, and the proportionate distribution of sale proceeds upon property sale, which includes stipulations for potential depreciation and appraisals. Useful for attorneys, partners, owners, associates, paralegals, and legal assistants, the form provides instructions for accurate completion of entries, such as names, addresses, financial contributions, and legal descriptions of the property. It includes clauses to address scenario-specific issues, such as death of a party, loan contributions, and provisions for optional modifications. In essence, this form serves to protect the interests of both parties while ensuring a shared venture in property ownership.
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FAQ

Generally, you will file the Notice of Commencement with the county where the project is located or the state construction registry. Depending on your filing location, you may have the option to file in person, by mail, or electronically.

Unlike other construction notices (such as the preliminary notice), the Notice of Commencement is: Recorded: These notices are filed with the county recorder offices in the county where the construction project is located.

The Widow/Widower's Exemption provides a $5,000 reduction in property assessment to every widow or widower who is a bona fide resident of this state. Form DR-501, (section 196.202, F.S.).

Documents are recorded at the Clerk of the Courts, MIAMI-DADE COUNTY RECORDER, COURTHOUSE EAST, 22 N.W. First Street, 1st Floor, Miami, FL 33128. You can record the Notice of Commencement by mail. The original Notice should be sent to the County Recorder, P.O. Box 011711, Flagler Station, Miami, Florida 33101.

Documents are recorded at the Clerk of the Courts, MIAMI-DADE COUNTY RECORDER, COURTHOUSE EAST, 22 N.W. First Street, 1st Floor, Miami, FL 33128. You can record the Notice of Commencement by mail. The original Notice should be sent to the County Recorder, P.O. Box 011711, Flagler Station, Miami, Florida 33101.

The Widow/Widower's Exemption provides a $5,000 reduction in property assessment to every widow or widower who is a bona fide resident of this state. Form DR-501, (section 196.202, F.S.).

You are 65 years of age, or older, on January 1; You qualify for, and receive, the Florida Homestead Exemption; Your total 'Household Adjusted Gross Income' for everyone who lives on the property cannot exceed statutory limits.

Sources of Property Records in Florida You could visit the county courthouse or county clerk's office to ask for copies of records. Another option is to use a reputable commercial resource like PropetyChecker, which allows you to access millions of property records in seconds.

The Florida Department of Revenue and all county property appraisers are required by law to publish specified county and municipal property tax information on their websites. This law also requires the Department to publish on its website certain non-voted property tax information for county and municipal governments.

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Equity Agreement Statement For Property In Miami-Dade