Possessing a property is a noteworthy achievement, and there are occasions when property owners desire to extend this ownership to others due to various reasons. A frequent approach to do it so is by including additional names on the property deed. Therefore, in this article, we will be answering the question “How to add a person to a deed in Florida?” through three simple steps.
Steps to Add a Person to a Deed in Florida
You can follow these steps if you are looking to modify or include an individual on a deed, such as a new spouse, relatives, or partner:
Step 1: Gathering Property Information
If possible, supply your lawyer with a previous deed or the property’s legal description. However, your lawyer can acquire them if you are unable to find either document.
Step 2: Finalizing The Deed Transfer
After the attorney drafts the new deed, the current property holder, or the individual transferring property rights, known as the grantor, must sign the deed in front of two witnesses and have their signature officially authenticated by a notary.
The deed must provide a precise description of the property to be transferred, enabling the clear identification of its boundaries and characteristics. Also, keep in mind that a witness is an individual who is at least 18 years of age and has been legally declared mentally and physically capacitated.
Step 3: Closure And Documentation for Property Deed Transfer
After completing the previous steps, the next one involves registering the deed in the county’s public records. For this, it is necessary to do it where the property is situated. This is also accompanied by the payment of the necessary recording fees and transfer taxes; this is often referred to as documentary stamps. The specific amount of transfer taxes owed can fluctuate depending on, for instance, the purpose of the transfer, the presence of an existing mortgage on the property, and whether the grantee, who is the individual being added to the deed, is compensating the grantor for a share of property ownership.
One aspect that is important to note is that only the party granting the property is obligated to sign the deed. Therefore, the individual being added to the deed does not need to provide their signature.
Finally, these steps are relevant regardless of whether the deed in question a quitclaim deed or a warranty deed is. Just to make it clear: On one hand, a quitclaim deed is predominantly utilized for property transfers within one’s family, or estate planning trust. Quitclaim deeds involve no financial exchange, and the receiving family member or family-owned enterprise places less emphasis on title-related concerns. On the other hand, a warranty deed is the type of deed employed in real estate transactions involving unrelated buyers. A warranty deed ensures that the property being sold comes with a clear and marketable title.
We Can Help You Add A Person To A Deed In Florida
We have just provided you with a general overview of the process of adding a name to a deed. Giving the uniqueness of each situation, we strongly advise seeking guidance from one of our knowledgeable real estate attorneys for tailored advice and assistance. You can always call us at (305) 921-0976, email us at [email protected], or reach us via WhatsApp at +1 (305) 921-0976.