Legal Question in Real Estate Law in Florida

transferring ownership of real estate

I have a home financed through a lending institution and currently purchasing a second home. I want to transfer ownership of the financed home to my sister. What is best way to accomplish this without paying additional fees, such as closing costs, and would my sister then be able to apply for homestead exepmtions?


Asked on 11/23/08, 9:11 am

1 Answer from Attorneys
Brent Rose The Orsini & Rose Law Firm

Re: transferring ownership of real estate

As long as she can finance the house in her own name, you can simply quitclaim it to her. Most mortgage companies will only allow warranty deeds, though, so a quitclaim may be a problem.

Once your sister owns the house and lives in it, she can homestead it.

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Answered on 11/23/08, 11:25 am


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