Do you have the right Deed?
Are you the owner of real property and now wish to convey the real property or gift the property?
A BRIEF OVERVIEW OF DEEDS
In Florida, there are several ways to convey real property. However, it is important to accurately convey real property, as it may create a cloud on the title to the property, which may require a Quiet Title Action.
A Warranty Deed provides the Grantor an opportunity to warrant to the Grantee that there are no issues with the real property. For example, the Grantor may warrant that there are no title defects with the real property, or the Grantor may warrant that the Grantor has the right to convey the real property to the Grantee.
A Special Warranty Deed provides the Grantor an opportunity to warrant to the Grantee that there are no issues with the real property since the Grantor obtained the title for the real property.
A Quit Claim Deed is different from a Warranty Deed and a Special Warranty Deed because in this Deed, the Grantor makes no assurances or promises regarding the real property and the Grantee will obtain title to the property as is.
A Life Estate Deed is a deed that will split the ownership between the present Grantor and the future owners. If you execute this Deed, the Grantor may hold the real property as a life tenant during the Grantor’s lifetime, and the future owners will inherit the real property as remainder beneficiaries after the Grantor dies.
A Lady Bird Deed is a deed that permits the Grantor to retain certain rights over the real property. For example, after a Grantor conveys real property to a Grantee, years later the Grantor may change his/her mind and want to change the Grantee. By executing this deed, the Grantor reserves his/her rights in the deed to change the Grantee without having the Grantee execute any documentation.
Did you execute the Deed correctly?
After you decide which Deed is appropriate for you, it is important that the Deed is executed properly under the formalities of Florida Statutes.
Under §689.01 of the Florida Statutes, a Deed must be in writing, signed by the Grantor, the Grantor must sign the Deed in the presence of two subscribing witnesses and a notary whose notary block, stamp and signature must appear as well. Therefore, it is good practice to have the Grantor execute the Deed in the presence of a Notary Public and have the Notary Public acknowledge the Grantor’s signature and affix his/her notary stamp on the Deed.
Contact Florida Real Estate Attorney, Kimberly M. Soto at 321.972.2279 to discuss your real estate needs and to assist you in determining which deed is appropriate for your particular needs. The Soto Law Office, P.A. is conveniently located in Altamonte Springs, Florida near I-4, and proudly serves residents in Altamonte Springs, Apopka, Casselberry, Longwood, Ocoee, Orlando, Brevard, Lake, Orange, Osceola, Seminole, and Volusia Counties.