Legal Question in Real Estate Law in Florida

Re: right of survivor

To determine the best way to leave the property to your daughter, it is important to know a few more details. Do you want to give it to her during your lifetime, or is this something that will happen upon your death? If you desire to leave it upon your death, then the best way is either through the use of a trust or through probate. I say that is the best way, assuming that you have owned the property for a while, and that it is worth considerably more than what you paid for it. By leaving it to your daughter after you die, as an inheritance, she will get a stepped up tax basis and will have minimal, if any, capital gains upon the sale of the home if that is necessary. The tax savings often times is significantly greater than the cost of a probate or trust administration. If you transfer the property, or any interest in the property to your daughter during your lifetime she inherits your cost basis, and would likely have significant capital gains taxes upon the sale.

You should really contact an attorney that deals with estate planning as I do to get the best advice given your personal situation.

Good luck to you