Understanding Enhanced Life Estate Deeds (Lady Bird Deeds) in Florida
Estate planning is crucial for protecting your assets and ensuring a smooth transfer of property to your heirs. For many Florida homeowners, especially those looking to avoid probate, an Enhanced Life Estate Deed—commonly referred to as a Lady Bird Deed—can be an invaluable estate planning tool.
This unique...
Summary Administration in Florida Probate: What You Need to Know
When a loved one passes away in Florida, their estate may need to go through probate. Summary administration is a more efficient and cost-effective option for smaller estates. It is a streamlined probate process that can save families time and money. If you're facing probate, especially in the context of Florida's...
How to Manage Estate Debts
The personal representative (a/k/a administrator or executor) of a probate estate owes a duty to beneficiaries and creditors. A personal representative must follow specific rules to avoid becoming personally liable and to safeguard assets. When someone dies, the process of paying their bills is much more complicated than when they were...
Legal Considerations for Buying Florida Waterfront Property
Many people flock to Florida every year for the beautiful beaches and coastal views. However, owning waterfront property comes with special rules and regulations that you should carefully consider before buying coastal property in Florida. Further complicating the matter is that Florida has oceanfront homes, lakefront properties, and canal-front estates, each with...
What are the Disadvantages of a Quit Claim Deed
Whenever someone transfers their ownership interest in real property to someone else, whether as a gift or via a purchase and sale transaction, they use some type of deed to effectuate the transfer. The person receiving the ownership interest is the property’s “grantee”. The person who transfers their ownership interest (i.e., title)...
The Legal Side of House Flipping in Florida
House flipping is a strategy in which an investor purchases real estate and improves it to sell it at a higher price, usually within a few months. Popular television shows often glamorize this profession and inflate the potential profits, leaving many people chasing unrealistic dreams. However, when done right, house flipping or...
The Basics of Summary Administration
For many families, summary administration in Florida can speed up and simplify the probate process following a loved one’s death. Here is what you need to know about summary administration and when it may be an available option for you.
What Is Summary Administration?
How to Take Care of a Florida Home During Probate
Many Florida estates include primary residences, vacation homes, vacant land, or other types of real estate. Many times, these estates must go through the probate process, which can be long and complicated. Heirs need to protect the estate’s assets during this process to protect their inheritance. Here are some responsibilities to...
Pros and Cons of Quitclaim Deeds
Quitclaim deeds are legal documents that property owners use to transfer property to someone else. However, unlike with a typical warranty deed in which the seller guarantees they legally own the property and the property is free and clear of all liens, there are no guarantees with quitclaim deeds. The grantor...
Key Terms in Real Estate Contracts
Real estate is one of the most valuable investments you can make, which is why it is required that contracts concerning real estate be put in writing. However, the terms used in these contracts can be confusing. Additionally, certain terms are required to be included in Florida real estate contracts.