Posted on: 17th Feb, 2007 01:39 pm
if I sell my property do I have to fill a statement of value also?
Hi Kellie,
If the property transfer deed does not have the selling price mentioned on it or a minimum price (like $1 or $99) is mentioned, then it will be required to fill out a Statement of value.
If the property transfer deed does not have the selling price mentioned on it or a minimum price (like $1 or $99) is mentioned, then it will be required to fill out a Statement of value.
This statement is also to be used when State & Local Realty Transfer Taxes are not paid.
The statement is available with your county recorder's office. On it the actual selling price & fair market value (FMV) of the property are required to be disclosed.
You will also have to pay transfer taxes as per the selling price you mention on the statement of value. If there is any applicable realty transfer tax exemption then that is required to be explained on the statement.
The statement is available with your county recorder's office. On it the actual selling price & fair market value (FMV) of the property are required to be disclosed.
You will also have to pay transfer taxes as per the selling price you mention on the statement of value. If there is any applicable realty transfer tax exemption then that is required to be explained on the statement.