Legal Question in Real Estate Law in Florida
How do I add my daughter to my deed for my home?
I would like to add my daughter's name to my deed to my home. How do I do that?
1 Answer from Attorneys
Re: How do I add my daughter to my deed for my home?
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
In order to add your daughter's name to your deed, a Quit Claim Deed from each of the current parties in title to the same parties and your daughter is required.
Be sure you complete it properly, however. Any error may void your intentions and have severe tax consequences for you as you could lose your homestead exemption...or a portion thereof.
Also, there are tax implications of a quit claim deed as you suggested that should be reviewed with a qualified real estate attorney. Although your heirs may save money on the probate of your estate in the future, they may very likely incur substantial tax consequences as a result of the stepped-up basis of the value of the property.
Scott R. Jay, Esq. 305-249-8000