How do I process or record a deed and what are the fees?
If you wish to transfer ownership, remove, or add a name to a piece of property you will need a new deed prepared and executed. There are several types of deed forms that may be used, if you are unsure as to the proper form or how to prepare it, please contact an attorney.
The deed is exempt from documentary stamp tax if it is or was the marital home and is being given pursuant to a dissolution of marriage.
A deed is exempt from documentary stamp tax when the deed is between spouses, the property is the homestead, and the only consideration is the amount of the mortgage or other lien encumbering the homestead property.
If the transaction is not exempt, documentary stamp tax is 70 cents per $100.00 of consideration or portion thereof. Consideration includes, but is not limited to:
- money paid or to be paid;
- the discharge of an obligation;
- the exchange of property (real or personal); and
- the mortgage, lien, or other encumbrance on the property, whether assumed or not.
If the property being transferred has a mortgage on it, the balance of the mortgage at the time of transfer is consideration for the transfer. Also, if property is transferred in lieu of foreclosure, the discharged indebtedness is consideration for the transfer.
Reference: Section 201.02(1)(a), Florida Statutes
The tax is calculated by multiplying the consideration times the percentage of ownership being conveyed. Example, if the property is owned by both spouses and one is deeding to the other, 50% of the ownership is being conveyed.
The deed must have a preparation statement which is the name and address of the natural person who prepared the deed. The name and mailing address of the grantor and grantee must be listed. All signatures must have the name printed or typed beneath the signatures. The document must be witnessed by two witnesses and be notarized.