At Booth & Cook we help clients transfer interest in real property for transactions such as transfer from the client personally to their company; transfer from husband to husband and wife as tenancy by the entireties; transfer from a parent to a parent and child as joint tenants with right of survivorship; transfer from the client personally to a trust or distribution from a trust to the client. Whatever the circumstance may be, Booth & Cook can help.
Three main ways to take title:
- Tenants in common – if title is silent to how the interest is vested between two people, there is a presumption that it is held as tenants in common. This means that if your deed reads from John Smith to John Smith and Jane Doe that it is presumed that John Smith and Jane Doe own the property 50/50 unless their interests are otherwise specifically stated.
- Joint tenants with right of survivorship – Florida law is clear that in order to have title vested as joint tenants with right of survivorship, the deed must say so. “JTWRS” or any other words will not suffice. Therefore, the deed should read from John Smith to John Smith and Jane Doe, as joint tenants with right of survivorship. This means that in the event John Smith dies, title is immediately vested in Jane Doe without probate. Jane Doe would just have to record the death certificate of John Smith in the county in which the real property was located.
- Tenancy by the Entireties – Tenancy by the entireties is the strongest tenancy and is for married couples only. For example if the title read from John Smith to John Smith and Jane Doe, his wife or from John Smith to Jane Doe, husband and wife or from John Smith to John Smith and Jane Doe, as tenancy by the entireties, title is vested as tenancy by the entireties. Therefore in the event Jane Doe died, John Smith would just have to record a death certificate of Jane Doe and title would automatically be vested in John Smith upon Jane Doe’s death without probate.
Deeds require two witnesses and a notary in Florida. The notary to a deed may also act as one of the witnesses but they MUST sign in both places.
There are many formalities that go into drafting and creating a deed. Therefore, if you are looking to transfer your property, call the law firm of Booth & Cook today to help you with this transaction and to make sure that it is done right the first time!