Deeds are used to convey the legal interest in real estate from the existing owner (known as the grantor or seller) to the new owner (known as the grantee or buyer).
In order to validly convey title to real property, it must be done in writing, thus the conveyance by way of a legal document known as a deed.
There are a variety of deeds used to convey real property. In the elder law and estate planning context, Elder Law Associates PA assists our clients with the conveyance of real property:
- From one spouse to another
- From parent(s) to child(ren)
- As an outright transfer
- With a retained life estate
- With a retained enhanced life estate (aka “ladybird deed”)
- Into or from revocable and/or irrevocable trusts
Determining which deed is appropriate requires careful analysis of the purpose for which the transfer is being made, the planning goals and objectives, and tax and homestead considerations. Under Florida Law, certain transfers are subject to “document stamp taxes.”
Further, certain transfers may cause the owner to lose the coveted “homestead status” afforded certain Florida homes.
Elder Law Associates PA assists our clients in navigating the above issues to assure that real property is conveyed effectively with the best possible tax and homestead treatment available.