Tag Archives: Deeds

Know Your Vesting: Joint Tenancy

Recorder-of-DeedsThere are three types of joint ownership title vesting in Florida; Tenancy in Common, Joint Tenancy, and Tenancy by Entirety.

Last week we covered Tenancy in Common, this week, let’s look at Joint Tenancy and what defines it.

– Parties: Two or more persons.

– Division: Ownership interests must be identical and interests must be obtained at the same time.

– Title: Each joint tenant has an equal undivided interest, which may be conveyed to a third party without the joinder of the remaining tenants.

– Possession: Equal right of possession.

– Conveyance: Conveyance by one joint tenant (without the others) breaks the joint tenancy to that co-tenant.

– Purchasers: Purchaser of less than the entire estate becomes a tenant in common with the former joint tenants.

– Death: Upon joint tenant’s death, decedent’s interest automatically passes to surviving joint tenant(s). Right of survivorship.

– Creditor’s Rights: Joint tenant’s interest may be sold pursuant to an execution sale to satisfy a creditor. Joint tenancy is broken and creditor becomes a tenant in common.

Right of survivorship must be expressly stated to create a joint tenancy. Merely reflecting, for example, John Doe and Jane Doe, as joint tenants, is insufficient to create a survivorship interest.

Know Your Deeds: Quit Claim Deeds

Recorder-of-DeedsWhen you say “Quick” – people think that it is a way to make things move fast. In a fashion, it does, but it doesn’t describe its function. “Quit” is the critical word, in that it accurately describes what is going on. It also helps define what makes it different than a Warranty Deed.

Any deed will transfer an interest in land from the grantor to the grantee, but a “Quit Claim” deed provides no warranty at all to the buyer. The grantor is only providing the grantee interest he may have in the property; none, some, or all.

What the grantor is not telling the grantee with a Quit Claim deed is:
‐ That he owns ALL the interest in the property (there may be others owners he is or is not aware of – you are only getting his interest).
‐ That there are no liens, judgments or other encumbrances against the property.
‐ That the grantor has any interest in the property at all (I can “Quit Claim” the Brooklyn Bridge if I want. It just means I am giving you 100% of my 0%).

In summary, with a Quit Claim deed you are only getting whatever interest the grantor has, if any, without any guarantees. Because of the limited nature of a Quit Claim deed, except in a few very narrow cases, an underwriter will not write Title Insurance on a Quit Claim deed alone. If you find yourself in a transaction where the seller offers only a Quit Claim deed, let us know early and we will help you review your options. It does not have to be a deal killer in all cases – just most.

Who is on the Deed? The Nassau County Edition

Recorder-of-DeedsHow do you quickly find out who is on the deed to a certain property? There are different ways to find this out, and the methods can vary from County to County. It is very simple to do in most.

For this Title Tip, let’s look at how you look up a deed in Nassau County.

For this example, let’s look at 1438 Philips Manor Dr. in Fernandina Beach. Open up a browser tab on your computer and follow along with me.

Here are the simple steps to follow:
1. Go to http://www.nassauflpa.com/
2. Select “Property Search” then enter the property address (“1438 Philips” is good enough), on the next page that comes up.
3. On the search result, click the Parcel Number, in this case 00-00-30-0263-0003-0000.
4. Scroll down to “Sale Information.” Note the sale date and the Deed Book and Deed Page; 2032/1464. Click the Book/Page numbers.
5. Confirm the Full Name or Cross Party Name match your property and your deed should be right at the top. Click the name, and that will take you to the deed where either via the image or via the thumbnails, you can bring up the deed. From there you can print it out.

Of note, there are some specific properties that you cannot get information about in a Public Records search. It is rare and only applies to certain people, but we can help you with that if needed.

You can get a PDF of this Title Tip here.

Who is on the Deed? The St. Johns County Edition

Recorder-of-DeedsHow do you quickly find out who is on the deed to a certain property? There are different ways to find this out, and the methods can vary from County to County. It is very simple to do in most Counties.

For this Title Tip, let’s look at how you look up a deed in St. Johns County. It has a few more steps than Duval County and is a bit trickier, but with the steps below you’ll have no problem.

For this example, let’s look at 233 Marietta Dr. Open up a browser tab on your computer and follow along with me.

Here are the simple steps to follow:
1. Go to http://www.sjcpa.us.
2. Select “Search.”
3. Select “Property Records Search.”
4. Select the “Basic Search” if you are using IE for your browser, or “Basic Property Records Search” if using Chrome.
5. At Property Record Search, as with Duval County, all you really need is the property address. I always enter at this point just the street number, as the names can be reordered or misspelled – but the number is always correct. In this case, “233.”
6. There are a lot of addresses that start with 233, but you can find the street in the list. Once you do, you can just click the appropriate STRAP in the left side of the page. That will get you to the property details. In this case, 0680530030.
7. Confirm you have the correct property, and then scroll down to the “Sales Information” section. At the top should be the last sale, 2/22/2016. The 4th column is “Book & Page,” for this example 4154/1110. You will need to write that down or open a new tab on your browser.
8. Type in http://www.clk.co.st-johns.fl.us/ (it may not take depending on your browser version. If not, follow the suggestion they offer or simply cut-n-paste the link in to a google search and it will get you there) and in the green horizontal oval you want to click “Online Records Search.”
9. At the next page, select “Official Records Search.”
10. That will bring up a new tab on most browsers. On that page under a picture of a red book will be “Book & Page.”
11. Click “Book & Page” then enter the Book & Page you wrote down or have in another tab as outlined in #7 above.
12. Your results should be at the top of the list. Confirm the Book & Page is correct, click it, and there you go. From there you can print out the deed.

Of note, there are some specific properties that you cannot get information on in a Public Records search. It is rare and only applies to certain people, but we can help you with that if needed.

You can find the PDF of this Title Tip here.

Finding a Deed in Duval County

Recorder-of-DeedsHow do you quickly find out who is on the deed to a certain property? There are different ways to find this out, and the methods can vary from County to County. It is very simple to do in most Counties.

For this Title Tip, let’s look at how you look up a deed in Duval County. As an example, let’s look at 1011 Meadow Point Ct. in Jacksonville. Open up a browser tab on your computer and follow along with me.

Here are the simple steps to follow:
1. Go to http://www.coj.net.
2. Select “Online Services.”
3. Under “Find” select “Property Search.”
4. At Property Search, on the left enter the address of the property in question. You don’t need it all, just the number will do, in this case “1011.”
5. There are a lot of addresses that start with 1011, but you can find the street in the list. Once you do, you can just click the appropriate RE# in the left side of the page. That will get you to the property details.
6. Confirm you have the correct property, and then scroll down to the “Sales History” section. At the top should be the last sale, in this case 1/5/2016. The first column is “Book/Page,” for this example 17422/01243. Click that hyperlink for Book/Page.
7. That brings you to the Duval County Public Records. On the right side of the page, you can “View Image” or “View Thumbnail.” Either way will give you the option to download or print out the deed.

There you go! Once you are used to it, you can get a deed printing out for you in 30-seconds.

Of note, there are some specific properties that you cannot get information on in a Public Records search. It is rare and only applies to certain people, but we can help you with that if needed.

You can get the PDF of this Title Tip here.

What Exactly is a Tenancy in Common?

nyt21homeThis week’s Title Tip is Part‐1 in a three part series on the different joint ownership vesting that you might find in Florida.

The first one we want to look at is Tenancy in Common. This is the default title vesting when two or more unmarried individuals are taking title to real property and no other tenancy is specified.

Here are it’s characteristics.

Parties: Two or more persons or legal entities.

Division: Ownership can be divided into any number of interests, equal or unequal.

Title: Each co‐tenant has a separate title to their undivided interest.

Possession: Equal right of possession, subject to specified amount of undivided interest.

Conveyance: Each co‐tenant’s interest may be conveyed separately.

Purchasers: Purchaser of less than the entire estate becomes a tenant in common with the
other co‐tenants.

Death: Upon co‐tenant’s death, their interest passes by will to the devisees or if no will, then to their heirs. No survivorship rights.

Creditor’s Rights: Co‐tenant’s interest may be sold on execution sale to satisfy a creditor. Creditor becomes a tenant in common.

Next week we’ll cover Joint Tenancy.

You can get a PDF of this title tip here.

Know Your Deeds, Part II: Quit Claim Deeds

We need to start any discussion about Quit Claim deeds by making sure everyone is using the correct term. Way too many times you hear even experienced professionals call them “Quick Claim” vice the correct “Quit Claim.” Words mean things, and the difference in what one word vice the other sets the mind to can get people in trouble.

When you say “Quick” – people think that it is a way to make things move fast. In a fashion, it does, but it doesn’t describe its function. “Quit” is the critical word, in that it accurately describes what is going on. It also helps define what makes it different than Warranty deeds we reviewed last week.

quit-claim-deedAny deed will transfer an interest in land from the grantor to the grantee, but a “Quit Claim” deed provides no warranty at all to the buyer. The grantor is only providing the grantee interest he may have in the property; none, some, or all.

What the grantor is not telling the grantee with a Quit Claim deed is:
– That he owns ALL the interest in the property (there may be others owners he is or is not aware of – you are only getting his interest).
– That there are no liens, judgments or other encumbrances against the property.
– That the grantor has any interest in the property at all (I can “Quit Claim” the Brooklyn Bridge if I want. It just means I am giving you 100% of my 0%).

In summary, with a Quit Claim deed, you are only getting whatever interest the grantor has, if any, without any guarantees. Because of the limited nature of a Quit Claim deed, except in a few very narrow cases, an underwriter will not write Title Insurance on a Quit Claim deed alone. If you find yourself in a transaction where the seller offers only a Quit Claim deed, let us know early and we will help you review your options. It does not have to be a deal killer in all cases – just some.

Returning to where we started, help everyone out when you hear someone else use “Quick” instead of “Quit.”

Quash quips on Quick Claim; it’s Quit Claim, and quite the non-quixotic quibble!

You can get the PDF of the above title tip here.

Know Your Deeds, Part I: Warranty Deeds

warranty-deedGeneral Warranty Deeds and Special Warranty Deeds (sometimes known as a Limited Warranty Deed, and infrequently as a Trustee’s Deed or Executor’s Deed) can be used to transfer property from the seller to the buyer with certain guarantees against future problems or claims. What differentiates the two is the degree of the coverage of the warranty.

General and Special Warranty Deeds both guarantee the buyer that:

– The seller owns all the rights (the title) to the property.
– The seller has the right to sell (convey) the property.
– The property is free of all encumbrances besides those mentioned in the deed (easements, judgments, restrictive covenants, etc).
– The seller will defend the property against all claims.

Here is the big difference between the General Warranty Deed and the Special Warranty Deed.

General Warranty Deeds encompass the property’s entire history. The seller states that they don’t just own the property, but all rights in the property as well.

A Special Warranty Deed only covers the period of time for which the seller owned it, and is only responsible for debts and problems accrued or caused during his ownership of the property. They are often given by corporations, and seen in most foreclosures.

While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.

What bridges that gap for the purchaser if they are getting a Special Warranty Deed? Title Insurance.

An owner’s title insurance policy backs up the claims of both types of Warranty Deeds, protecting the buyer from any future questions about ownership or liens.

In the course of investigating Title during the process of issuing Title Insurance, the results of the search will give the buyer confidence that they will have knowledge of potential issues. Although Title Insurance does not guarantee that you will not have a title problem, it does provide peace of mind and insurance to help pay to correct the problem or to compensate you if the problem cannot be corrected.

You can download a PDF of this tip here.