Land Trusts In Florida
Hello --
I have a few rental properties in Florida and am looking to put them in land trust. However, when I go the county Recording Office to file a new deed to the Trustee ("Warranty Deed to Trustee"
, they tell me that I must pay 70 cents per hundred of the mortgage on the property. I thought the cost of putting a property into Land Trust is only the cost of the recording fee? They said that this charge is for the Florida Department of Revenue (which is a transfer tax). Anyone else have any other experiences? Any run around this?
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