Posted on: 28th Jul, 2011 01:32 pm
My father wants to transfer his property to me. Are there taxes or other fees attached to a $1 exchange or qiut deed? There is no mortage. We live in Philadelphia Pa. There are some back taxes owed on the property. I can pay that but may not be able to afford added on taxes or fees due to the transfer because of my limited income.
Hi camille!
Welcome to forums!
There may be other taxes like stamp doc fees, deed transfer fees, etc attached with the transfer of the property. It will be better if you could contact a tax adviser and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
There may be other taxes like stamp doc fees, deed transfer fees, etc attached with the transfer of the property. It will be better if you could contact a tax adviser and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Camille, there may well be a state transfer tax or a city tax. You ought to seek this information from the Philadelphia tax collector as well as from the State of Pennsylvania tax office.
When I think of tax advisers, I think mostly about income tax issues and not property-related taxes.
When I think of tax advisers, I think mostly about income tax issues and not property-related taxes.
