014: Florida Family Property Transfers: Protecting Your Homestead Exemption and Save Our Homes Cap

Chelsea Metka takes on one of the most common do-it-yourself tasks in Florida real estate: transferring a home to a family member. A parent adds an adult child to the deed, or a couple moves the house into a trust using an online form. Later, a tax bill or a letter from the Department of Revenue shows the homestead exemption is gone or documentary stamp taxes are due. Chelsea walks through each Florida deed type, from quitclaim to lady bird deeds, and explains why a recorded deed is so hard to undo.

 

She also covers how an existing mortgage can trigger stamp taxes when no money changes hands, what the Save Our Homes cap protects, how tenancy by the entireties shields married couples, and three practical ways parents can help an adult child buy a home in Central Florida.

Families thinking about a transfer will find clear, practical answers here.

In this episode, you will hear:

• Common problems DIY deeds create for Florida families
• How quitclaim, warranty, special warranty, and lady bird deeds differ
• Why an existing mortgage can trigger documentary stamp taxes on a gift
• Protecting the homestead exemption and Save Our Homes cap during a transfer
• How tenancy by the entireties shields married couples from one spouse’s judgment
• Why a deed into your own trust must be recorded to take effect
• Three ways parents can help an adult child buy a home in Central Florida

Resources from this Episode

Resources – https://metkalawfirm.com/deeds-easements-title-issues/

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via Metka Law Firm https://metkalawfirm.com/florida-family-property-transfer-deed-guide/