How to Take Title of Your Orlando Vacation Home
Posted by Team Donovan on
After purchasing a second home in Orlando, some buyers decide they want to change how they took title to the property by adding a family member or spouse, or even transferring the property to a corporation or trust. However, it’s important to know that such a transfer could create unintended tax liabilities. That’s why Team Donovan recommends that you consider how to take title to a property before you enter into a purchase contract.
There are several ways to take title to Florida real estate. Each variation has its own potential advantages and limitations. Here are the most common options to consider when buying an Orlando vacation home:Â
1. Sole Ownership – Buyers who wish to hold property in their own names may use this form of ownership.…