Posted on: 09th Dec, 2008 05:48 am
Brother in prison wants to warranty deed home to his brother and avoid transfer taxes (sell less than $100.00) while protecting property from prisoners son who started civil suit to get fathers assets.
Hi charliesplace,
The transfer taxes depend upon either the sale price or the appraised value of the property, whichever is higher. So though $100.00 is written as the sale price, if the appraised value of the property is higher, you will have to pay transfer taxes.
Thanks,
Jerry
The transfer taxes depend upon either the sale price or the appraised value of the property, whichever is higher. So though $100.00 is written as the sale price, if the appraised value of the property is higher, you will have to pay transfer taxes.
Thanks,
Jerry