Deeds Lawyer

While people realize that they will need a new deed when they are buying real estate, they often do not know that creating a new deed can help accomplish estate planning tasks and operate to protect the property or reduce the expenses associated with transferring the property.

Florida law recognizes several types of deeds, so it is important to choose the right deed and ensure that it describes the property correctly to meet legal requirements and convey the type of interest that is right for the situation.

At the Law Office of Cameron H.P. White, P.A., we can explain how different types of deeds could affect your situation and help you determine whether a Florida life estate deed might be a helpful tool to accomplish estate planning goals. We create deeds that protect your interests without unnecessary complexity or expense.

Understanding Title and Deeds in Florida

When you hold title to property in Florida, you have the legal right to use the property. A deed is a document that shows that title has passed from one person to another.

Like the weather, title to real estate can be clear or it can be cloudy. When title to property is clouded, it means that there is a problem that could invalidate or interfere with the title holder’s ownership of the property. The problem could be unpaid taxes or a lien from a creditor. Or the problem could relate to the history of the property and the deeds transferring property in the past.

Before a real estate sale closes, particularly if there is a mortgage, the buyer will typically hire a company to conduct a title search on the property. They comb through records to make sure there are no liens and that each time the property was transferred, the deeds were written and recorded properly. A problem or missing document clouds the title, and that needs to be corrected before the sale can go through.

Types of Deeds Commonly Used in Florida

Some deeds include a guarantee about the quality of the title being transferred and some deeds do not. With a quitclaim deed, the owner who is transferring makes no guarantees at all. They are passing whatever title that they happen to have. This type of deed is one of the easiest to create and it is often used when someone is transferring property within their own family or if they are moving property into a trust.

Deeds that include a guarantee about the quality of title include general warranty deeds and special warranty deeds. With a general warranty deed, the person transferring ownership is offering a guarantee that title is good and not encumbered. With a special warranty deed, the person transferring the property guarantees that nothing has happened during their ownership that would cloud the title. If you buy property with a warranty deed and a problem arises, you can sue the seller for compensation, but you will not gain clear title to the property until you act to remove the defect.

Finally, people in Florida also transfer property using a life estate deed or an enhanced life estate deed, sometimes called a Lady Bird deed. With a life estate deed, you split ownership so that you keep the use of property during your lifetime and someone else gains ownership when you pass away. That person is said to have a remainder interest in the property. 

Because you both have some ownership rights, you both need to agree to actions such as mortgaging or renting the property. An enhanced life estate deeds gives you the ability to do more with the property while you own it. Many people set up life estate deeds as a method of passing real estate without the delays and expense of probate and to help establish eligibility for Medicaid long-term care benefits. However, you need to discuss the potential drawbacks with your attorney before setting up a life estate.

Get the Right Deed for Your Specific Situation

Real estate transactions can be confusing because of the complex laws that apply. If you need a new deed to fund a trust or complete another transaction, or if you are considering a life estate deed, we invite you to discuss the issues with us at the Law Office of Cameron H.P. White, P.A. We can help you understand what you need and the most economical way to obtain it. Schedule a strategy session now to get started.