Have you inherited a vacant lot in Florida, only to find out that Florida probate is necessary? Here's our first question...
We receive a lot of emails and phone calls from people whose parents, now deceased, bought vacant land in Florida. A Florida probate administration is always required to pass title, because Florida law says that only a Florida court can issue judgments or orders determining title to Florida real property. We handle that process throughout the State of Florida. However, our first question is, “Have you talked to a local realtor?”
That is because some Florida lots are worth the cost of probate and annual property taxes, and some are not. There are some counties in which developers went “hog wild,” and built roads and utilities for subdivisions that today have no houses, or nearly none, and show no sign of being needed anytime soon. The questions to ask the realtor are, “Is there a current demand for lots in this area? If not, do you anticipate that there will be a demand in the foreseeable future?”
Sometimes it helps to look at the lot on Google Earth. Is it a lonely little lot in a sea of undeveloped lots, far from nearest row of houses? Or are there many houses on the street, giving hope that there is a market for your vacant lot? One look can often tell you what you have.
We are happy to help with a summary administration to transfer the lot, the cost of which is often under $2,000, depending on the county and the estate. However, we want our clients to make sure that the money they spend on probate and taxes will be returned when the lot is sold.