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Transferring Ownership of Property via a Florida Quitclaim Deed

A quitclaim deed is typically used to transfer ownership of property without being sold, usually to family members or other trusted parties. There are several reasons why you might want to use a quitclaim deed to transfer ownership of real property in Florida. For example, a quitclaim deed allows you to:

  • Transfer property to or from a revocable living trust
  • Transfer property to an ex-spouse as part of a divorce
  • Transfer one co-owner’s interests to another co-owner
  • Transfer property you own by yourself into co-ownership with someone else
  • Change the way the property is titled

Quitclaim Deed vs. Warranty Deed

A warranty deed is the most common deed form used in real estate transactions. It states that the seller is the owner of the property and has the right to transfer ownership to the buyer. It also guarantees that there are no liens against the property and that the property cannot be claimed by anyone else. Warranty deeds require a title search and title insurance, while quitclaim deeds do not.

Because a quitclaim deed does not offer any of the guarantees that a warranty deed does, it is most commonly used by families or other trusted parties to transfer property ownership.

Clarifying ownership

Quitclaim deeds are also used when property is owned by more than one person, to clarify the ownership among the various owners.

In Florida, when more than one person owns property together -- and they are not married to each other -- that property is owned as tenants in common. This means that if one of the owners dies, his or her ownership share does not transfer to the other owner(s). It goes to the deceased owner’s heirs through probate. To avoid this, a quitclaim deed would be used to designate ownership as joint tenants with the right of survivorship to clarify survivorship rights and avoid probate.

Contact our Fort Myers estate planning law firm for a complimentary consultation on strategies to help protect and preserve your assets.

Categories: Asset Protection
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The Dorcey Law Firm, PLC - Fort Myers Attorney
Located at 10181 Six Mile Cypress Pkwy, Suite C, Fort Myers, FL 33966
Phone: (239) 330-6674
Local Phone: (239) 418-0169
Website: http://www.dorceylaw.com
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