Posted on: 06th Aug, 2008 10:14 am
when signing a quit claim deed on a house from 2 owners over to just one owner, who is recuired to pay?
Pay? Do you mean for the filing fees? The notary fees? Is this being transferred with the assistance of escrow & title services?
The doc stamps were never payed when we signed the quit claim. We filed it through a title company. this happened a year and a half ago and I just received the letter stating I got audited and I owe money from the doc stamps, I was unaware they were never payed?
Brittmc,
I hope you get another response from someone better versed on the subject of doc stamps than I am.
Briefly doc stamps are a form of state tax that's to be paid when a title transfers. Although there isn't a definite rule (usually) for who pays for this tax it is generally the property owner (the transferor). The amount of the doc stamp varies from state to state.
I think I would start with the title company who was responsible to see that these were paid & ask why they were not...who knows maybe it was an oversight & the check was just never issued.
I hope you get another response from someone better versed on the subject of doc stamps than I am.
Briefly doc stamps are a form of state tax that's to be paid when a title transfers. Although there isn't a definite rule (usually) for who pays for this tax it is generally the property owner (the transferor). The amount of the doc stamp varies from state to state.
I think I would start with the title company who was responsible to see that these were paid & ask why they were not...who knows maybe it was an oversight & the check was just never issued.