Location: Florida - Lake County
Submitted 07/30/07 01:23 PM

Q. What does it take to add a name to a deed in order for that person to apply for Homestead Exemption. And how much does it usual cost. There is still a Mortgage on the Property.

 

Answer #1
Submitted 07/30/07 02:08 PM
Keith Blazek (All Southern Real Estate Services, LLC): Real Estate Agent in Miami, FL Keith Blazek (All Southern Real Estate Services, LLC)
Real Estate Agent
Miami, FL

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A.

I am in Southeast Florida (Miami-Dade/Broward Counties), and in general you will need an attorney to prepare a Quit-Claim Deed giving the property from the person currently on title back to them self and the additional person.  This is generally not expensive, the real cost is the mortgage stamps that the county/state charge based on the current mortgage amount.

This is general information, not intended to be legal advice, if you need to know if this information applies to you, please consult your attorney.

Answer #2
Submitted 07/30/07 02:17 PM
John Elwell (CENTURY 21 Bill Nye Realty, Inc.): Real Estate Agent in Zephyrhills, FL John Elwell (CENTURY 21 Bill Nye Realty, Inc.)
Real Estate Agent
Zephyrhills, FL

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A. A title company can also add a name to a deed for you.

Answer #3
Submitted 08/08/07 03:11 PM
Highland Beach Condos David Serle, Boca Raton Agent David Serle (RE/MAX Services): Real Estate Agent in Highland Beach, FL Highland Beach Condos David Serle, Boca Raton Agent David Serle (RE/MAX Services)
Real Estate Agent
Highland Beach, FL

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A. A title company or attorney can prepare this quit claim deed, but technically you are supposed to get approval from your lender as any interest that is conveyed the lender must approve.  You also may be liable for Doc Stamps on the deed even though it is not a purchase per se, but the clerk of court has been coming down hard on people and are collecting the doc stamps.  A quit claim deed usually costs under $200.  You can also pick one up at office depot and do it yourself .  Just brong it to your local bank so they can notarize it for you.  Make sure you do not sign the Quit Claim Deed until you are in front of the notary.  Hope this helps

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