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In fact, taxes may be due on a quit claim deed even when the property is transferred between spouses. With such transfers, if the property is mortgaged, then tax is generally due on half of the outstanding balance.
There are two sides to a transaction. In real estate, a grantee is the recipient of the property, and the grantor is a person that transfers ownership rights of a property to another person.
To sell a home you received through a quitclaim deed, you will still need to transfer ownership using a warranty deed. To do this, you'll need to hire a title company to perform a title search, which will generally cost between $150 and $400, but can be much more depending on the property.
Having a lawyer on your side who has experience handling quitclaim deeds and property transfers can be very beneficial and help you move through the process more efficiently. The repercussions of a quit claim deed can be dire if it isn't constructed properly.
In Florida, you can make a quitclaim deed or hire someone like a lawyer to do it for you. However, ensuring the deed is prepared correctly and adheres to legal requirements is crucial. Preparing a quitclaim deed involves understanding the legal rules for deeds in Florida and how to file them with the county.
When you transfer title and ownership of real estate in Florida, you sign a deed conveying or transferring the property to the new owner. In most real estate closings, the seller is responsible for providing the deed that is signed at closing.
Florida quit claim deed requirements The quit claim deed needs to include the full legal name of both the grantor(s) and the grantee(s). For a grantor, this should be the name as it appeared on the deed when the grantor obtained title. For the grantee, this should be the full legal name of the grantee.