Florida’s Newlywed Documentary Stamp Exemption
By: Barry L. Miller, Esq., of Barry L. Miller, P.A., Offices Orlando
As you may be aware, Florida has a documentary stamp tax on the transfer of deeds. The tax is calculated at the rate of .007 times the purchase or value of the property. Newlyweds should consider adding their spouse to their real property. Now, under Florida statutes, there is no documentary stamps due on transfers of encumbered homestead property between spouses.
This is a simple procedure to transfer the property between one spouse into both spouse’s name. The main reason to transfer the homestead property into both names is so when one of the spouses dies, the property will automatically vest in the surviving spouse without the need for probate.
At Barry Miller Law, we can assist newlyweds with preparing and recording of the deed. We can also have the deed signed online with our easy to use Remote Online closing platform.
Call us at 407-423-1700 or [email protected]