Closings on Track with Technology Assist

toates Real Estate

We continue to accommodate closings for purchases and refinances. The vendors we work with for lien searches, surveys and title work have been hard at work assisting in getting across the finish line with our closings.

Marriage Penalty Removed for Conveyances Between Spouses

toates Estate Planning, Probate Estates, Real Estate

When you purchase a property prior to marriage you take title as co-tenants (similar to a partnership). The default language for taking title between non-spouses is “John Doe and Jane Doe” or “as co-tenants.” Under Florida Law this assumes each owns fifty percent of the property. This has certain implications for survivorship and devise, especially if the heirs of each of the co-tenants is not the same. There are other ways to hold title between non-married individuals such as “joint tenants” which are outside the scope of this article.

Commercial Rental Sales Tax Decrease, Surtax Increase

toates Uncategorized

Effective January 1, 2019, there will be a decrease in the sales tax rate for renting, leasing, letting or granting a license to use commercial real estate. The rate will fall from 5.8% to 5.7%. Examples of real property subject to the real property rental sales tax include commercial office space or retail space, warehouses, and self-storage units or mini-warehouses. …