Just having a name on a deed is not proof of ownership in Florida. So exactly what is ownership of property? And as a potential buyer, how do you prove ownership is free and clear of liens so the property can be transferred to you at closing?
Florida’s constitution gives property owners the right to sell their ownership. And the Property Owners Bill of Rights in Florida ensures owners can legally transfer property. So, how does a seller transfer ownership of a house in Florida?
You can even do it online now, but this is not a do-it-yourself moment. This legal transaction requires an expert like a Lang Realty agent working with licensed real estate attorneys and title companies.
For instance, there’s a change of ownership from Florida Department of Revenue requires being filled out and sent to the county property appraiser: Change of Ownership Document
And to complicate matters even further, there are three types of property ownership:
Tenancy by the Entireties can only be held by a husband and wife; Tenancy in Common provides for any individual to hold a partial interest in the title with no right of survivorship. And Joint Tenancy with Right of Survivorship means the individuals hold an undivided interest in the property with a right of survivorship upon the death of the other tenant.
Whether you’re buying or selling real estate property, transferring ownership is no simple matter. Better left to the experts at Lang Realty.
