Legal Question in Civil Litigation in Florida

Re: Securing a debt

I have never heard of a "deed to secure debt" in Florida. In Florida, you need a note and a mortgage. you would come behind whomever has a mortgage or lien on the property and be paid only after they have been paid.

Re: Securing a debt

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A Deed to Secure Debt is basically the same as a Mortgage. In Florida, a Mortgage is given on the property to secure a Promissory Note for the debt. The Mortgage should be recorded in the county where the property is located. Stamp taxes will have to be paid on the amount of the Mortgage. Check with the recording for the exact amount.

Scott R. Jay, Esq.