Posted on: 27th Nov, 2007 10:13 am
my soon to be ex-wife signed a quit claim deed in my favor. i went to file it at the polk county courthouse and they said i owed 50% of the mortgage balance in doc stamp fees. this does not seem right!!!
Hello Stanhedgepeth,
I think they were right. In Florida, doc stamp taxes are calculated as half of the mortgage balance when ownership to the property is transferred by a quit claim deed.
If the property was transferred due to divorce, then it would not have been subjected to such tax.
I think they were right. In Florida, doc stamp taxes are calculated as half of the mortgage balance when ownership to the property is transferred by a quit claim deed.
If the property was transferred due to divorce, then it would not have been subjected to such tax.
Hi stanhedgepeth,
Welcome to this forum.
I think what they have said is right. For the property transfer and filing the deed is subject to Doc stamp tax. And if the property is mortgaged, generally, you have to pay 50% of the mortgage balance as doc stamp fees.
Thanks,
Larry
Welcome to this forum.
I think what they have said is right. For the property transfer and filing the deed is subject to Doc stamp tax. And if the property is mortgaged, generally, you have to pay 50% of the mortgage balance as doc stamp fees.
Thanks,
Larry
thank you for the info! the reason for the quit claim is due to a seperation and ultimately a divorce. does that change things??
Hello Stanhedgepeth,
The reason could be that but as far as I know, if the legal procedures for the divorce is not yet complete, that won't help you to get a release from the doc stamp taxes.
The reason could be that but as far as I know, if the legal procedures for the divorce is not yet complete, that won't help you to get a release from the doc stamp taxes.