A property title deed is the legal document that defines who owns a piece of property and allows an owner to transfer all or a portion of property ownership to another person. Adding individuals to or removing them from a deed is a legal process that requires you to follow specialized regulations. Failure to follow the right procedures can change the validity of your deed. In most situations, it’s essential to partner with an experienced real estate lawyer to accurately change names on property title deeds in Florida.
Why Would Someone Need To Change a Name on a Property Title Deed?
A property deed proves ownership of the property and contains important information, including the names of the owners, a legal description of the property, and any conditions or rights that come with ownership. There are several reasons you may need to change a name on a deed.
- Marriage or divorce
- Death of a property owner
- Inheritance
- Changing your legal name for any reason
- To correct existing errors
Laws Around Changing a Name on a Property Title Deed in Florida
Changing a property title deed in Florida requires you to follow specific real estate laws and regulations. Florida Statute Chapter 695.26 defines the requirements for changing a property title deed and officially recording the new deed. House Bill 1419 lists legal requirements that must be followed when recording deeds. Legal requirements you must follow under the statutes include:
- The person wishing to change the deed (grantor) must present a government-issued photo identification.
- The grantor(s) names and addresses must be legibly printed in the body of the deed.
- The deed must be signed by all current owners while in the presence of two independent witnesses and a notary.
Other Things to Keep in Mind when Changing a Name on a Property Title Deed
A property title deed is a legal document that gives individuals rights to ownership of a property or part of the property. Any changes you make are legally binding and can impact how you use your property. As such, it’s essential to keep these considerations in mind when changing a name on a property title deed.
Reversing the Change Can Be Challenging
Adding a person’s name to a title deed gives them legal rights of ownership. If the relationship changes, you can’t automatically revert the title to its original form. You only have two courses of action to remove an individual’s name from a property title deed: Having the person voluntarily transfer the deed or filing a lawsuit.
Changing Names on a Title Can Affect Your Taxes
Transferring property may lead to the loss of certain tax exemptions (such as the Florida homestead exemption) for the grantor. In some situations, the transfer may qualify as a taxable gift, requiring the recipient to pay additional taxes. Discussing your unique situation with an experienced real estate attorney from The Orlando Law Group can help you determine the best way to transfer your property without facing unexpected tax increases.
Adding Names to a Deed Doesn’t Guarantee the Property will be Transferred Upon Your Death
Many people mistakenly believe adding a name to a property deed will ensure the property will be passed to that person upon the original owner’s passing. However, this isn’t always the case. If the deed doesn’t specifically include language regarding your wishes, the property may be awarded in accordance with Florida probate laws.
Are You in Need of Legal Help in Florida? Contact The Orlando Law Group
If you’re planning to change the names on a property title deed in Florida, it’s a good idea to talk to an experienced real estate attorney from The Orlando Law Group first. Our attorneys can help you understand the details of the process, and help you obtain all the necessary documents before getting started. Contact The Orlando Law Group to learn more about the requirements for changing the name on a deed or to book your consultation.
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Last Updated on September 26, 2024 by The Orlando Law Group
