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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54720
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I recently purchased a home ( Pineallas county Florida) and

Customer Question

I recently purchased a home ( Pineallas county Florida) and I own a home in Martin county Florida that I am renting out.
My daughter is living with me in the new property in Pineallas county and is paying the mortgage while I am paying all the utilities and refurbication of the property ( approx 50-80K).
I have owned the property in Martin County for over 20 years, and do not want to sell it and I do not want to loose the Homestead exemption I have on it. I cannot obtain "TWO" homestead exemptions ( one for each property).
How can I "LEGALLY" add my daughter to the Pineallas county property so "SHE" can obtain / apply for the Homestead exemption ( since she is technically paying the mortgage), and in the event anything happened to me,, she automatically becomes the property ower.
I recently retired and want to insure this is taken care of.
Quick Claim ? Quit claim ? not sure ....
Thanks
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
You can sign a quit claim deed transferring her an undivided 50% ownership interest in the property as a joint tenant with right of survivorship. That will give her ownership of the property AND in the event you predecease her, title will automatically vest in your daughter without the need for probate. The quit claim deed needs to be signed by you, witnessed and notarized, and then recorded in the real property records of the city/county in which the property is located.
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