Legal Question in Real Estate Law in Florida
Adding my wife to my deed
I was recently married and want to add my new wife to my deed. My deed is in my name now only. What form do I use to add my wife to the deed?
1 Answer from Attorneys
Re: Adding my wife to my deed
You could use a quit-claim deed or a warranty deed, the latter being recommended. You would deed it to the two of you as husband and wife. HOWEVER, you should be aware of some consequences: 1-The property appraiser will probably up your property assessment to the current fair market value. 2-Documentary stamps of $7.00 per $1000 of any outstanding mortgage(s) will be due upon recording. 3-She will not receive a full "step-up" in basis upon your death. 4-If you ever wish to sell or refinance your home, she must agree to sign the deed or mortgage. 5-You will probably have to reapply for the homestead exemption. 6-Should I go on? You ABSOLUTELY need to consult with a knowledgeable attorney before taking such a step.
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