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Mobile Home Park Investing

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Terry Drake
  • Real Estate Investor
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260
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Failure to Transfer Title within 30 days and the penalties

Terry Drake
  • Real Estate Investor
Posted Jun 16 2010, 07:56

I live in Florida and was wondering why kind of penalties I'm facing. I date on my purchase agreement (when I bought the home from the sellers) is dated 4-22-10. I didn't transfer title to my name to avoid paying the transfer fees and a year of registration.

I'm going tomorrow to transfer title to the new buyer and I'm wondering since I'm past past the 30 day window what type of penalty I should expect to pay. Any ideas? I was thinking about changing the 'date of possession' on the purchase agreement but I'm not sure and don't want to make a small problem bigger by fudging numbers.

Does anybody know?

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