Are Doc Stamps Paid on a Quit Claim Deed in Florida?

Yes. Florida documentary stamp tax applies to a quit claim deed the same way it applies to any other deed. The tax is based on the consideration for the transfer, not on the type of deed.

Tax Rate:

• Standard rate: $0.70 for every $100 of consideration, or fraction of $100, with a $0.70 minimum.

• Miami-Dade County: $0.60 for every $100, plus a $0.45 surtax for deeds of property other than a single-family residence.

What Counts as Consideration:

• Money paid: the price paid for the property.

• Mortgage balance: any mortgage on the property counts, whether or not the new owner assumes it. A family transfer of a mortgaged home can owe real tax even when no cash changes hands.

• Gifts: a gift of property with no mortgage and nothing paid generally owes only the $0.70 minimum.

Who Pays:

The tax is paid when the deed is recorded with the clerk in the county where the property is located. The parties can agree who pays.

Exemptions:

• Divorce: a transfer of the marital home between spouses or former spouses under a divorce is not taxable.

• Spouses and homestead: a transfer of homestead between spouses is not taxable when the only consideration is the mortgage.

• Trusts and entities: transfers to a revocable trust, an LLC, or another entity have their own rules and should be reviewed before recording.

An attorney can confirm the correct tax before the deed is recorded.