Legal Question in Real Estate Law in Florida

My husband and I sold a piece of property in 2005 in which we also hold the mortgage. The purchaser is unable to pay and is willing to sign it back over to us. We are also willing. What form would we use to do so, and would we owe taxes on this? We live in the State of Florida Thank you for any assistance you can provide.


Asked on 1/31/11, 3:46 pm

1 Answer from Attorneys
David Labovitz Labovitz Law Firm, P.A.

A quit claim deed would probably work just fine. The purchaser might have a tax liability for loan forgiveness.

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Answered on 1/31/11, 5:18 pm


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