Documentary Stamp Taxes on Conveyances Between Spouses

Effective July 1, 2018, the Florida Legislature has amended the provisions of Section 201.02, Florida Statutes, as it pertains to the payment of Documentary Stamp Taxes on deeds between spouses. Prior to July 1, 2018, Documentary Stamp Taxes were due on conveyances between spouses on the full consideration of the transfer, i.e., the consideration that would have been paid in an arm's length transaction between unrelated parties.

Beginning on July 1, 2018, a deed that transfers or conveys homestead property or any interest in homestead property between spouses is exempt from payment of Florida's Documentary Stamp tax if the deed is recorded within 1 year of the date of marriage. Conveyances between spouses after the 1 year period are subject to payment of Doc Stamps to the extend of the consideration paid or the amount of existing mortgage(s) on the property, even if the indebtedness is not assumed by the spouse added to title.

Please contact us at The Edwards Law Firm, PL for the preparation of a deed or other information about the new provisions of Section 201.02, Florida Statutes.

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