Questions about Title and Ownership in Palm Coast, Flagler?

By
Real Estate Agent with Palmcoasting.com Real Estate Corp

Questions about Title and Ownership in Palm Coast, Flagler?

LET REALTOR CYD WEEKS ASSIST YOU IN FINDING YOUR NEW HOME, CONDO, LOT OR INVESTMENT HERE IN PALM COAST AND FLAGLER COUNTY!    CALL 386-793-7302 OR VISIT http://www.palmcoasting.com/ TODAY! 

I invited Sue Rogers of First Choice Title Services to give us all a little explanation about ownership here in Florida.  She will be helping to educate us on various subjects that come up when looking at buying or selling and how this effect title.

I contacted Sue to find out about husband/wife relationships and how that effects ownership of the property and here is what she had to say:

SUE: Most married persons own property as husband and wife, which means, tenancy by the entireties in the state of Florida.  On the Warranty deed you do not have to specify tenancy by the entireties, using husband and wife is sufficient.

Tenancy by the entireties is a tenancy created between husband and wife and by which together they hold title to the whole with right of survivorship, so that upon the death of either the other takes the whole without probate to the exclusion of heirs, or homestead claims.  Neither party can alienate (sell) or encumber (mortgage) the property without joinder of the other spouse in the conveyance.

Once the property is homestead, each spouse has the rights of the property.  If the spouse's decide to divorce and one spouse is granted the homestead property, it would be wise at that time to have the other spouse sign off on a quit claim deed to that property, to avoid problems down the road when the other spouse who was awarded the property decides to sell the property.

If a property is homestead and the couple is married and only one spouse's name is on the deed.  The other spouse still has tenancy by the entireties rights, even though their name is not on the deed.  So the other spouse can not sell or mortgage the property without the other spouse signing off on the documents.

Question:  If the people are NOT married when, let's say the man, purchases the property, and then they marry, is this still tenancy in the entireties?    If the property was not homesteaded does that effect the situation at all?  If the husband had homesteaded and then married, how does that affect it?

Answer:  To the first question is yes, if it is homestead.  If it is investment property they could have some rights depending on how long they have been married and how long before they got married was the property purchased.  With investment property they can sell and mortgage the property with out the other spouse approval.

If the husband had homestead and then married yes it takes effects.  He would not be able to sell the property with out the wife's signature on the deed.  Even if her name is not on the deed, she would still have to sign off of the deed.

 

Question: If the man lives in the house but has not filed any paperwork to signify it's homesteaded and did not file paperwork for the homestead exemption, is it assumed this is his homestead?  

Answer: No, he would have to actually file with the appraisers office for Homestead.

If you have any questions you would like to ask of Sue, please feel free to email me at cydweeks@palmcoasting.com and I will try to have it answered here on the blog.   What you might be wondering, someone else probably is also.    Please remember, these questions and answers are for informational use only and do not constitute an attorney's opinion or legal advice.  If you have legal issues you need addressed it is best to contact a local or Florida attorney for answers pertaining to your specific situation.   

You can always visit Sue Rogers at her website:  http://www.1stChoiceTitleServices.net

LET REALTOR CYD WEEKS ASSIST YOU IN FINDING YOUR NEW HOME, CONDO, LOT OR INVESTMENT HERE IN PALM COAST AND FLAGLER COUNTY!    CALL 386-793-7302 OR VISIT http://www.palmcoasting.com/ TODAY! 

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