In Florida, a deed is required to transfer ownership of a piece of property, regardless of whether that property consists of buildings or vacant land. Contrary to popular opinion, the title to the property is not conveyed by the mortgage in Florida (the mortgage creates a lien on the property). This deed proves you are the owner of the property that is described in the deed. There are three main types of deeds in Florida. A real estate attorney can help you get the property transferred to you.
What Is A Deed And Why Is It Important?
A deed is the actual legal document that would transfer the ownership (title) of a property from one person to another. A deed is signed by the person selling or transferring the property rights, called the grantor. The person purchasing or taking possession of the property rights is called the grantee. The deed must be properly executed, in compliance with Florida law.
Types Of Deeds
Below, we will offer insight into the different types of deeds to transfer properties and address some confusion on the matter. You must get clarification on exactly what type of property deed your property possesses.
- General Warranty Deed: In Florida, a warranty deed (also called a general warranty deed) provides the grantee with broad warranties and covenants of title and is the customary form of deed used in residential real property transactions. This standard document has integrated drafting notes with important explanations and drafting tips. It provides the most protection to purchasers or transferees in that it provides s a full warranty of title to the property being conveyed. The warranty deed ensures that all title issues that have arisen during the history of the property have been resolved.
- Special Warranty Deed: In Florida, a special warranty deed offers protection to the buyer with a limited guarantee from the seller that the title to the property legally belongs to them and that there are no outstanding liens, mortgages, or other encumbrances against it during the period of time the seller owned the property. It does not warrant any title issues that arose before the owner’s ownership of the property. A special warranty deed is a form of deed customarily used in commercial real property transactions.
- Quit Claim Deed: In Florida, quit claim deeds are most often used to transfer property to one’s family, family LLC, or estate planning trust. These transfers are typically for no consideration, and the recipient family member, or family-owned business, is less concerned about title issues. A Florida quit claim deed form is a type of deed that transfers property to a new owner with no guarantee that the transferor has a valid, clear title to the property.
Ensuring that deeds are prepared correctly and adhere to legal requirements is crucial. Preparing a deed involves understanding the legal rules for deeds in Florida and how to file them with the county. It is best to hire a real estate attorney to help you with this procedure.
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About Estevez Law Group, P.A.
About Estevez Law Group, P.A.Helping clients with real estate, commercial real estate transactions, residential property purchases and sales, estate planning, and more! Skillful legal representation can simplify complex real estate transactions and solve problems that frustrate all parties involved. At the Estevez Law Group, P.A. our boutique real estate law firm and title agency assists clients with all types of residential and commercial property matters.
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