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[+] The Good, Bad or The Ugly - AbstractorWatchdog com/NY (1 reply)
9/12/2012 6:01:57 PM (3577 views)

[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (3294 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4725 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4898 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (6392 views)




[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2820 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (3476 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (3364 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (3274 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (3259 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (3346 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (3333 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (3273 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (3543 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (3131 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 (4312 views)

In Ruined Apartments A Symbol of Ireland's Fall - Leigh Attridge/MA
9/3/2012 3:08:55 PM (4243 views)

Labor Day - Leigh Attridge/MA
8/28/2012 2:43:26 PM (3709 views)

[+] jack munsey - SC - Jason Knowles/AL (16 replies)
8/27/2012 3:29:22 PM (4395 views)

[+] New Millenium - Lucille Femine/TN (5 replies)
8/26/2012 3:03:15 PM (3216 views)

[+] Romney promises energy independence by 2020 - Scott Perry/PA (6 replies)
8/24/2012 9:50:47 AM (4379 views)

[+] Beware J&J Nationwide - Kendall Bond/CA (1 reply)
8/22/2012 2:20:17 PM (3068 views)

[+] First American - Lucille Femine/TN (12 replies)
8/21/2012 7:04:26 PM (3728 views)

[+] Comment on "Foreclosure Rescue Scam Principal Loses Own Foreclosure Case" - Source of Title/OH (1 reply)
8/21/2012 4:26:53 PM (2875 views)


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