Samuel Louis LePrell’s Answers

Samuel Louis LePrell

Jacksonville Real Estate Attorney.

Contributor Level 6
  1. My mom died years ago. Should my dad have changed his condo ownership FROM "x and y smith" TO "x smith" with a warrananty deed

    Answered over 5 years ago.

    1. Samuel Louis LePrell
    1 lawyer answer

    Under Florida law the property automatically became your father's upon the death of your mother. There is no reason for your father to deed the property to himself. When he goes to sell the property he would most likely be required to produce a certified copy of your mother's death certificate and sign an affidavit re their continued marriage from the date they acquired the property until her death.

    1 person marked this answer as helpful

  2. How do I get my name off a real estate bond

    Answered over 5 years ago.

    1. Samuel Louis LePrell
    1 lawyer answer

    When you say "bond" I am assuming that this is a mortgage on the home. The bond/mortgage holder would have to release you from your obligation under the bond/mortgage. That is very unlikely. There is nothing that you and your ex finance can do to release you from you obligations without the cooperation of the bond/mortgage holder, unless you file bankruptcy. This answer is based on Florida law

    1 lawyer agreed with this answer

  3. Owned my house for 9 years. Will I have capital gains?

    Answered over 5 years ago.

    1. Samuel Louis LePrell
    1 lawyer answer

    If this is your primary residence (for 2 out of the past 5 ears) you will be able to exclude $500,000 (if married and filing your tax return jointly) of the $764,000 in gain from federal income tax. If single the excluded amount would be $250,000. You will be subject to capital gains on $264,000 if married and $514,000 if single.