954-998-1588
Gregory A. Ebenfeld, P.A.
Serving Clients In Southeastern Florida Talk To Attorney Gregory A. Ebenfeld Today. Call 954-998-1588.

Super Deed

When I create a "Super Deed," do I still retain my homestead exemption?

If you are eligible for the homestead exemption, you will still retain the ability to claim the exemption.

Will a beneficiary of the "Super Deed" have any rights over my real estate before I die?

No. Your beneficiary does not have any rights over your real estate until after you pass away.

Why do you recommend not having a mortgage on the property before transferring the real estate into a "Super Deed"?

Most mortgages contain a due on sale clause, this clause allows a mortgage to called and the entire amount of the mortgage required to be paid immediately. By using a "Super Deed," the transfer into a "Super Deed" may trigger this clause and the entire amount of the mortgage could be required to be paid immediately. The safest way not to have this clause initiated would be not to use a "Super Deed" if you have a mortgage on real estate.

Does transferring real estate into a "Super Deed" create a gift subject to gift taxes?

No. Since all of ownership over the real estate is retained by you, there is not a completed gift. Therefore the transfer is not subject to gift taxes.

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