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Quality Title & Abstract Agency - Smitty Strickland/SC
9/14/2012 5:53:37 PM (2456 views)

Quality Title & Abstract Agency - Rick Huguenin/SC
9/14/2012 3:58:32 PM (2525 views)

[+] RELEASES - F P/VA (6 replies)
9/14/2012 10:29:30 AM (2877 views)

[+] it boss - rod hefner/KS (2 replies)
9/14/2012 7:48:21 AM (2814 views)

[+] Going to stick my neck out one more time. - Nils Nelson/ME (2 replies)
9/13/2012 10:04:26 PM (3027 views)




[+] Beware of emails from SOT - Louise Jackson/SC (4 replies)
9/13/2012 5:04:51 PM (3109 views)

[+] The Good, Bad or The Ugly - AbstractorWatchdog com/NY (1 reply)
9/12/2012 6:01:57 PM (3505 views)

[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (3193 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4633 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4777 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (6293 views)

[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2735 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (3163 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (3038 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (2985 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (2929 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (3028 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (3028 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (2957 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (3259 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (2813 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 (4206 views)

In Ruined Apartments A Symbol of Ireland's Fall - Leigh Attridge/MA
9/3/2012 3:08:55 PM (4129 views)

Labor Day - Leigh Attridge/MA
8/28/2012 2:43:26 PM (3613 views)


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