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[+] The Good, Bad or The Ugly - AbstractorWatchdog com/NY (1 reply)
9/12/2012 6:01:57 PM (3471 views)

[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (3167 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4600 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4749 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (6266 views)




[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2707 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (3073 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (2943 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (2890 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (2824 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (2922 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (2932 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (2866 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (3169 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (2739 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 (4172 views)

In Ruined Apartments A Symbol of Ireland's Fall - Leigh Attridge/MA
9/3/2012 3:08:55 PM (4112 views)

Labor Day - Leigh Attridge/MA
8/28/2012 2:43:26 PM (3596 views)

[+] jack munsey - SC - Jason Knowles/AL (16 replies)
8/27/2012 3:29:22 PM (4255 views)

[+] New Millenium - Lucille Femine/TN (5 replies)
8/26/2012 3:03:15 PM (3083 views)

[+] Romney promises energy independence by 2020 - Scott Perry/PA (6 replies)
8/24/2012 9:50:47 AM (4252 views)

[+] Beware J&J Nationwide - Kendall Bond/CA (1 reply)
8/22/2012 2:20:17 PM (2963 views)

[+] First American - Lucille Femine/TN (12 replies)
8/21/2012 7:04:26 PM (3602 views)

[+] Comment on "Foreclosure Rescue Scam Principal Loses Own Foreclosure Case" - Source of Title/OH (1 reply)
8/21/2012 4:26:53 PM (2735 views)


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