QUIT CLAIM DEED – TRANSFER OF TITLE

SOUTH FLORIDA REAL ESTATE LAWYER

Florida title to real property is held in the form of a “deed”.  There are many different types of real estate deeds. You can have a Warranty Deed for general real estate sales and purchases. When you purchase property from a developer you typically get a Special Warranty Deed.  When you purchase property from a Trust you get a Trustee Deed. And then there are Quit Claim Deeds.  Quit Claim Deeds are mere transfers of title, without any warranty or guarantee as to the title or clouds on title. For example, there may be a mortgage or lien on the property that will not be extinguished or removed when the title is transferred by quit claim deed.

The recording of a quit claim deed, while inexpensive ($10.60 in Miami Dade and $10.70 in Broward and Palm Beach County), affords the least protection to the purchaser or Grantee, and  also requires the payment of documentary stamp taxes on any outstanding mortgage(s). If not paid at the time of recording, then the transferor could face severe penalties after recording the document.

Many deeds are exempt from having to pay documentary stamp taxes,  for example, if the deed is the result of a divorce. And while many vendors such as Office Depot sell deeds, it is always best to consult a real estate attorney to prepare it for you. Any mistake, or wrong digit in the legal description of the real estate could have severe consequences, after the fact if Grantors die or disappear.

Next time you require the preparation of a deed or transfer of property, consult with an attorney so you are protected and will have peace of mind.

We are a full service real estate law firm handling all aspects of contract and landlord tenant law.

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Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com