In general, you cannot transfer your homestead to anyone or any entity if you have a spouse or minor children. The reason is because a spouse or minor children automatically inherit homestead property. However, your spouse has the option to waive his or her homestead rights.
There are two ways to waive homestead rights, by deed or by contract:
- Deed – Waiver of homestead rights by deed can be accomplished by adding the following language to the deed: “By executing or joining this deed, I intend to waive homestead rights that would otherwise prevent my spouse from devising the homestead property described in this deed to someone other than me.” Florida Statute 732.7025.
- Contract – Waiver of homestead rights by contract can be accomplished before or after marriage by the waiving party signing a contract in the presence of two subscribing witnesses. Florida Statute 732.702. One of the most common ways that spouses waive their homestead rights by contract is through a pre- or post-nuptial agreement.
If your spouse waives homestead rights and you do not have minor children, then you can transfer the property to a trust, entity, or to whomever you want.