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A Condo was Sold- Until it Wasn't - Leigh Attridge/MA
9/16/2012 5:40:34 PM (3869 views)

[+] AccuSearch - Deborah Jackson/GA (8 replies)
9/14/2012 11:30:15 PM (3614 views)

Quality Title & Abstract Agency - Smitty Strickland/SC
9/14/2012 5:53:37 PM (2573 views)

Quality Title & Abstract Agency - Rick Huguenin/SC
9/14/2012 3:58:32 PM (2625 views)

[+] RELEASES - F P/VA (6 replies)
9/14/2012 10:29:30 AM (3012 views)




[+] it boss - rod hefner/KS (2 replies)
9/14/2012 7:48:21 AM (2917 views)

[+] Going to stick my neck out one more time. - Nils Nelson/ME (2 replies)
9/13/2012 10:04:26 PM (3134 views)

[+] Beware of emails from SOT - Louise Jackson/SC (4 replies)
9/13/2012 5:04:51 PM (3224 views)

[+] The Good, Bad or The Ugly - AbstractorWatchdog com/NY (1 reply)
9/12/2012 6:01:57 PM (3614 views)

[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (3348 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4762 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4952 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (6430 views)

[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2875 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (3654 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (3531 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (3420 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (3435 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (3497 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (3478 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (3414 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (3688 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (3277 views)

In situations like this, I make sure it is the seller signing the "Statement of Value" [PA] or the "Affidavit of Consideration" [NJ] so any tax questions become between them and the taxing authority instead of the title company and the taxing authorities.  In PA, the tax is based either on the sales price or the equilized value of the property according to the Common Level Ratios established by the commonwealth's revenue department.  Which ever is higher, is supposed to be what is charged.  Even though Statements of Value and Affidavits of Consideration are not always required, it is permissable to do them, and if I had a similar situation as you, I would certainly use one signed by the seller.  And then leave it up to the taxing authorities to sort if all out.  We are title agents, not tax consultants.

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[+] I'm registered for the NAILTA Conference in Baltimore! - Robert Franco/OH (1 reply)
9/4/2012 11:39:30 AM (4357 views)


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