Legal Question in Real Estate Law in Florida

Re: Property 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 joint tenants with right of survivorship" if you wish title to pass to the survivor on the first death. (I am assuming you are single; otherwise your spouse would have to sign the deed if it is your homestead.) HOWEVER, you should be aware of some consequences: 1-If this is homestead, the property appraiser will 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-The co-owner will not receive a full "step-up" in basis upon your death. 4-If you ever wish to sell or refinance your home, (s)he must agree to sign the deed or mortgage. 5-If (s)he is not living in the home, his/her half of the property is subject to his/her creditors, and if (s)he should already have a judgment outstanding, it would become a lien on the property. 6-You will have to reapply for the homestead exemption. 7-Should I go on? You ABSOLUTELY need to consult with a knowledgeable attorney before taking such a step.