What are documentary stamp taxes? We don’t have those in my state.
Florida Documentary Stamp Tax is due on transfers of real property from a trustee on behalf of a trust or to a trustee on behalf of a trust. The important distinction in these transfers is whether any change in the beneficial ownership of the real property has occurred. The most common trust vehicle present today for estate planning purposes is the revocable living trust. By its nature, it is revocable by the grantor during their lifetime. As a result, the grantor retains a beneficial ownership interest in the assets of the trust. This means that any real property assets transferred to or from the revocable trust, during the grantor’s lifetime, are not subject to Florida Documentary Stamp Taxes, so long as there is no consideration for the transfer.
Scott Critzer
Scott Critzer began working in the construction and real estate business more than 30 years ago, after graduating from Virginia Tech’s top ranked Department of Civil and Environmental Engineering with a Bachelor of Science in Civil Engineering. He worked first as an engineer for a commercial developer and later as a development project manager. Continuing his education, Scott graduated from Georgia State University College of Law in 1993 and opened his law practice in Atlanta where he worked litigating real estate cases and performed real estate closings. He has been a member of the Florida Bar since 1995 and moved permanently to the Emerald Coast to become Corporate Counsel, and later General Counsel of a title insurance agency in Destin. In 2008, Scott Critzer renewed his private practice concentrating in the areas of real estate and banking law. Since then Scott has provided legal advice to a wide range of corporate and individual clients throughout the Southeastern U.S. in real estate law (including closings), banking law, creditor’s rights, business law, probate-trust law and other civil matters. Scott provides a personal approach to the practice of law, taking time to get to know his clients. He takes pride in being able to explain difficult concepts in easy-to-understand terms in order to empower a client to be fully included in the legal process.