Posted on: 18th Oct, 2006 12:20 pm
if a property transfer deed does not show actual selling price for the property then would be ok to get it recorded at county recorder office
The county recorder of deeds will not accept the deed for recordation if the actual property value is not mentioned on it. But it will be accepted if a statement of value is provided along with it.
Hi Pryor,
Barlow is quite correct; the statement of value is a form which is used to set the value for the property.
This form is available at the recorder's office and in this form the actual price and the market value of the property is to be mentioned. Also if the transfer of property is claimed to be exempt from realty transfer tax then the exemption is required to be explained on this form.
Thanks
James
Barlow is quite correct; the statement of value is a form which is used to set the value for the property.
This form is available at the recorder's office and in this form the actual price and the market value of the property is to be mentioned. Also if the transfer of property is claimed to be exempt from realty transfer tax then the exemption is required to be explained on this form.
Thanks
James
Hi,
Usually property transfer deeds should have the legal description of the property. You should verify if the legal description is similar to what you know. If there is anyone else on the title along with you, it is better to check the status of the title (as you wanted) and then get the deed recorded.
Thanks,
Sara
Usually property transfer deeds should have the legal description of the property. You should verify if the legal description is similar to what you know. If there is anyone else on the title along with you, it is better to check the status of the title (as you wanted) and then get the deed recorded.
Thanks,
Sara