Legal Question in Real Estate Law in Florida
contract for deed
I am using a contract for deed, besides doc stamps, recording fee is there other forms etc. in florida needed for this form to be legal. Is insurance a must? I own the property, no home on it but they are putting one in.1/2 is put down 1/2 I finance. Many thanks!
Asked on 6/21/09, 2:35 pm
1 Answer from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: contract for deed
It is legal if properly prepared and recorded. However, since it must be foreclosed on just like a mortgage, and the doc stamps, etc., are the same, for your sake, it is strongly recommended you use a deed, promissory note and mortgage. I advise you to run this by an attorney before you do it.
Answered on 6/22/09, 4:30 pm
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