How Do I Transfer My Homestead
Video Summary
How do I transfer my homestead? I’m assuming that this question has to do with your homestead exemption on if you’re an owner or property, and that’s your permanent place of residence. And you’re a resident of the state of Florida. You can exempt the first $25,000 of your taxable valuation from taxes, which saves you approximately $500 in taxes. You pay tax on any amounts between 25,000 and 50,000, from 50,000 to 75,000. You can and exempt everything except school taxes, which save you another approximately $300. In addition to that, there’s a constitutional amendment that provides that, As long as you have homestead exemption on your property, then the tax assessment will not increase by the lesser or a 3% or cost of living. So, if you change homestead, if you buy another property, or acquire another property, you move into that property. And it’s now your homestead.
You should apply to the property appraiser’s office to have homestead on that property and tell them that you wish to, for your homestead exemption, to this new property, it’s called portability. And they should transfer that to you. If this, you have to acquired this other property within two years from the date that you last had homestead. So, if you sold your property, you don’t want to wait more than two years to acquire another property. If you want to transfer your homestead and or save our homes, freeze, or holding the tax assessment to the lower amount, which is transferable on, and that’s called portability. You have any questions on that? You give me a call at (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos
What Are the Elements of A Real Estate Deed?
Video Summary:
What are the elements of real estate deed? I’m taking this question as is what are the warranties under, a warranty deed. And very candidly, I had to look these up and they’re in the English common law, which is incorporated into our Florida warranty deeds. And I’ve gotta look at my notes here. It says, these are the warranties. A Quiet enjoyment is one of the warranties two, a covenant against encumbrances. And I think that’s probably the biggest one, three, a covenant of season, meaning that you own the property, four, a covenant that says you have a right to convey the property. Five, further assurances, is meaning that you’ll and six defend the title. I think the last two are probably will overlap each other, but usually with a warranty deed, the biggest thing is that the person who’s conveying it, well says that there’s no liens or encumbrances against the property and they have a warranty as far as that’s concerned. That’s I guess, concern anymore. We have title insurance and transactions so that you have you don’t have to look to the seller for these defects and the title. You can look at your title insurance policy. So if you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
What is encroachment?
video summary
What is an encroachment, as when an object is placed over a boundary line. Most instances you get a survey which would show whether or not there is any objects, which are usually fences that may be encroaching on a boundary line. Hopefully it’s not a house or a permanent structure, but any event that a survey would show if there are any encroachments within the boundary line. Another example of an encroachment is when the encroachment is into a easement, let’s say there’s an easement across the back of your property, for utilities, and, and drainage. And you build a swimming pool and that the swimming pool is can encroach or be installed or portion of be installed into the easement that of being an encroachment into the easement. So encroachment is whenever something is, an object or something is put in over a boundary line. And that’s an encroachment. If you have any questions on that, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
What if I do not like my neighbors landscaping?
video summary
What if I do not like my neighbor’s landscaping? Well, there’s nothing that you can do about your neighbor, landscaping, or the way that they maintain their property. Is it, if it does not violate your, your restrictive covenants in your homeowner’s association, if the landscaping does well, then you can urge the homeowner’s association to take action, to have it corrected, or you under the restricted covenants could file an action to have it corrected, or you could see if it violated any of the county ordinances as far as that’s concerned, but otherwise it’s just something you have to live with. As far as your neighbor’s concerned, sort of like there’s no restriction on how, what color do they paint their house? If they painted some gosh awful color? Well, you just need to close your eyes when you pull in your driveway every day. So, I don’t know that’s sort of a neighborhood dispute, but if you have any questions you can call me at (727) 847-2288.
- Published in Real Estate, Videos
Why Is a Title Review Important In A Real Estate Transaction?
Video Summary
Why is a title review important in a real estate transaction? Well, the obvious reason to me is that you want to know whether or not there’s any liens on the property. Also, you want to confirm who the actual owner of the property is, and does not take someone at face value saying that they own the property particular if you’re buying it. So #1, a title search would be done. And certainly in Florida, I would recommend that you obtain title insurance. So, a complete title search would be done to determine the ownership and what liens or in conferences there are against the property, if there’s any outstanding bills, any judgment liens, any wild deeds or, someone has attempted to transfer the property. So those are all in important and almost every real estate contract will provide that to the buyer or seller would be paying for title insurance. So that they’re assured that they’re getting marketable title to the property and that there are no outstanding judgments or liens of against the property are none that they’re aware of or any unsatisfied mortgages as far as that is concerned. So if you have any questions, give me a call at (727) 847-2288
- Published in Real Estate, Videos