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[+] The Good, Bad or The Ugly - AbstractorWatchdog com/NY (1 reply)
9/12/2012 6:01:57 PM (3585 views)

[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (3302 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4737 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4909 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (6402 views)




[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2829 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (3500 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (3387 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (3294 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (3282 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (3371 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (3349 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (3293 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (3560 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (3150 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 (4320 views)

In Ruined Apartments A Symbol of Ireland's Fall - Leigh Attridge/MA
9/3/2012 3:08:55 PM (4257 views)

Labor Day - Leigh Attridge/MA
8/28/2012 2:43:26 PM (3717 views)

[+] jack munsey - SC - Jason Knowles/AL (16 replies)
8/27/2012 3:29:22 PM (4403 views)

[+] New Millenium - Lucille Femine/TN (5 replies)
8/26/2012 3:03:15 PM (3221 views)

[+] Romney promises energy independence by 2020 - Scott Perry/PA (6 replies)
8/24/2012 9:50:47 AM (4386 views)

[+] Beware J&J Nationwide - Kendall Bond/CA (1 reply)
8/22/2012 2:20:17 PM (3077 views)

[+] First American - Lucille Femine/TN (12 replies)
8/21/2012 7:04:26 PM (3742 views)

[+] Comment on "Foreclosure Rescue Scam Principal Loses Own Foreclosure Case" - Source of Title/OH (1 reply)
8/21/2012 4:26:53 PM (2880 views)


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