To be valid in Florida, a quitclaim deed must contain a legal description of the property, the names and addresses of the grantors and grantees, and the notarized signatures of the grantors, grantees and two disinterested witnesses. You must pay the state transfer tax when you record the deed.
What is a Quitclaim Deed in Florida?
A quitclaim deed is a legal document you use in Florida to convey an interest in real property. While other types of deeds in Florida make guarantees about the property title, a quitclaim does not. It simply transfers to a grantee whatever interest the grantor may have in the real property.
If it turns out that the grantor does not have any interest in the property, the grantee gets nothing. This means that there is a risk to accepting a quitclaim deed from a stranger. Still, quitclaim deeds are easy and effective ways to transfer some property interests. They are often used to:
- transfer property title from community property to joint tenancy
- transfer property into a revocable living trust
- transfer property as part of a divorce settlement
- transfer a co-owner’s interests to another co-owner
- transfer property you currently own yourself into co-ownership with someone else
- settle uncertainties from an ambiguous inheritance
Read More: What Is the Advantage of a Quitclaim Deed?
Florida Quitclaim Deed Requirements
A Florida quitclaim deed is a simple one-page document, which is easy to prepare if you pay attention to the details. Each deed filed must meet the requirements that are outlined in Section 695.26, Florida Statute. You have to print your name and address as well as the name and address of the grantees, i.e. the people to whom you are giving the deed. It's a good idea to identify how the grantees are taking title (for example, as co-owners, jointly, 50/50 or something else, etc.).
You can find a quitclaim deed form for Florida on the internet. Florida requires that you enter the legal description of the property. Copy this carefully from the prior deed. You'll also want to include the Florida parcel number.
Florida requires that you sign the quitclaim deed in front of two disinterested witnesses. All signatures must be notarized.
After you complete the deed, make enough copies for all parties. Without delay, record the original deed with the county recorder in the county where the property is located. The deed will not be valid against third parties until it is recorded.
Other Considerations for a Quitclaim Deed
When you record the deed, you also have to pay the transfer tax, which is based on the property's sale price. The tax is levied at a rate of $.70 per $100 (or portion thereof) on documents that transfer interest in Florida real property.
This includes warranty deeds and quitclaim deeds. You pay it to the Clerk of Court when the document is recorded. The Clerk of Court forwards the tax money to the Department of Revenue. The sale price amount must be either stated on the deed or be included in a cover letter for recording.
A Florida quitclaim deed won't be valid unless it contains the names and notarized signatures of the transferor and the transferee, with two witnesses, as well as the legal description of the property.