Drafting a Warranty Deed to Trustee for a Florida Land Trust

The Warranty Deed to Trustee used to convey real property into a Florida Land Trust is by far the most important transaction related document needed when you are setting up, structuring and funding a Florida Land Trust. 

Granting Powers to the Trustee

The Warranty Deed to Trustee conveys and communicates the various legal powers and authority conferred upon the Trustee of the Florida Land Trust by the Deed.  The Trustee still has all of the powers and authority conferred to it by the Warranty Deed to Trustee even if a formal Florida Land Trust Agreement is never drafted.  We always recommend using a formal Florida Land Trust Agreement, however.

Drafting the Warranty Deed

The Warranty Deed to Trustee must grant full powers to the Trustee of the Florida Land Trust.  The individual drafting the Florida Land Trust Agreement should take great care to ensure that the requirements listed in Section 689.071 of the Florida Land Trust Statute be including in the Warranty Deed. 

Trustee Should be a Legal Person or Entity

A Trustee should be a natural person or a legal entity.  The Florida Land Trust itself does not have legal capacity and is not a natural person or legal entity, so the Warranty Deed must convey the real property to the Trustee of the Florida Land Trust, such as Exeter Fiduciary Services, LLC, as Trustee of Florida Land Trust No. 12345.

The Trustee has the legal capacity to act on behalf of the Florida Land Trust, so you should also take great care in the selection of your Trustee.  There are many providers that charge nominal fees, but getting in touch with them and actually getting timely service can be a challenge.  So, be sure to thoroughly review the options, services, expertise and experience in addition to the fees charged by prospective Florida Land Trust Trustees. 

Personal Property Designation

Warranty Deeds should include language stating that the beneficiary's interest in the Florida Land Trust is a personal property interest (in other words not a real property interest).  The Warranty Deed to Trustee should also clearly state that the Trustee does not have any person liability, which should take care of any possible exceptions that might be found in the Florida Land Trust law. 

Comments

[Zellcorp]

Not bad article, but I really miss that you didn't express your opinion, but ok you just have different approach

[Lawrence]

More individuals should learn about the Warranty Deed to Trustee for a Florida Land Trust

[Lawrence]

Incredible information.