Investment property owners need to review their portfolios regularly to identify new opportunities as the market changes. In many instances, owners may find they want to sell existing property in exchange for different real estate opportunities.
If you discover that the seller or borrower of your upcoming transaction is a trust, the most important thing to do is to verify that the property is correctly held in the name of the trustee, and not the trust itself.
Most residential real estate transactions in Florida start with the “AS IS” contract. This contract is in its sixth version and covers many of the issues that arise during a real estate purchase/sale. However, the contract would be too burdensome if it covered all types of sales and/or situations which can arise.
There are many ways real property can be titled or owned. The following are the most common ways property is titled and/or owned. It is strongly suggested that you speak to a real estate attorney to determine the best way to title your property given your specific circumstances.