Deeds
Andrew David Easler, Esq.
Published
Updated
Why Do Deeds Have a $10 Consideration?
It is a drafting custom, not a legal requirement. A Florida deed does not need consideration to be valid, and reciting $10 does not reduce doc stamp tax.
Many Florida deeds say the property was transferred "for $10 and other good and valuable consideration." This is a drafting custom, not a legal requirement. A deed does not need consideration to be valid in Florida. A property owner can give real estate away with a gift deed, and the deed still transfers title if it is properly signed, witnessed, and delivered (section 689.01). Consideration matters for contracts, such as a purchase agreement, but a deed is a conveyance, not a contract.
The $10 language developed for a few reasons.
Custom: older deed forms used it, and Florida's statutory deed forms leave a blank for the amount (section 689.02).
Price privacy: the deed itself does not state the sale price. In Florida, the doc stamp amount shown on a recorded deed can reveal the price, so the privacy benefit is limited.
Stating $10 does not reduce documentary stamp tax. In Florida, the tax on a deed is 70 cents per $100 of consideration, and consideration includes money paid, the discharge of an obligation, and the amount of any mortgage or other encumbrance on the property, whether or not the debt is assumed (section 201.02(1)). The tax is based on that actual consideration, regardless of what the deed recites. QuickDeeds attorneys draft the consideration language to match the transfer.
Disclaimer: This content is for informational purposes only and is not legal advice. No warranties on completeness, accuracy, or suitability. Always consult an attorney for personal guidance.
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