Real Estate Law Question Spotlight: Can I use a quit claim deed to transfer property in Florida?
This week a client asked "Can I use a quit claim deed to transfer property in Florida?".
It depends! A classic attorney answer, but it really does depend. Its best to understand what a quit claim deed is, before assessing if it is best for your situation.
A quitclaim deed is a legal instrument that transfers your interest in the property, whatever that may be to another person. A quit claim deed does not provide any warranties.
A quit claim deed can be used to transfer certain property from one owner to another in an arm’s length transaction. Often times, a quit claim deed will be utilized when transferring assets from one business to a subsidiary, property from one family member to another, or a transfer between friends. Before utilizing a quit claim deed, a property owner should consult with an attorney to determine if a quit claim deed will suffice in their specific circumstances.