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[+] Global Data/Title Prep - Anne Neff/VA (6 replies)
9/12/2012 3:19:26 PM (2704 views)

[+] Knowledge Splice??? - Susan Raynard/MA (3 replies)
9/11/2012 9:27:28 AM (4156 views)

[+] GoDaddy goes down - Dan Zook/NY (8 replies)
9/10/2012 2:51:13 PM (4144 views)

[+] MORTILES - Deborah Jackson/GA (12 replies)
9/6/2012 10:33:19 AM (5690 views)

[-] Avoiding transfer tax? - Alix Ott/MI (9 replies)
9/5/2012 4:25:05 PM (2236 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/5/2012 7:53:16 PM (1906 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:08:31 AM (1804 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 8:58:42 AM (1775 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 9:08:27 AM (1707 views)
Re: Avoiding transfer tax? - Leigh Attridge/MA
9/6/2012 9:26:30 AM (1765 views)
Re: Avoiding transfer tax? - Richard Olson/MD
9/6/2012 12:00:18 AM (1798 views)
Re: Avoiding transfer tax? - Alix Ott/MI
9/6/2012 8:10:23 AM (1721 views)
Re: Avoiding transfer tax? - Robert Franco/OH
9/6/2012 3:48:03 PM (2008 views)
Re: Avoiding transfer tax? - Jeffrey Land/NJ
9/10/2012 10:16:44 AM (1634 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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Real Title Services


[+] I'm registered for the NAILTA Conference in Baltimore! - Robert Franco/OH (1 reply)
9/4/2012 11:39:30 AM (3589 views)

In Ruined Apartments A Symbol of Ireland's Fall - Leigh Attridge/MA
9/3/2012 3:08:55 PM (3569 views)

Labor Day - Leigh Attridge/MA
8/28/2012 2:43:26 PM (3146 views)

[+] jack munsey - SC - Jason Knowles/AL (16 replies)
8/27/2012 3:29:22 PM (3755 views)

[+] New Millenium - Lucille Femine/TN (5 replies)
8/26/2012 3:03:15 PM (2587 views)

[+] Romney promises energy independence by 2020 - Scott Perry/PA (6 replies)
8/24/2012 9:50:47 AM (3655 views)

[+] Beware J&J Nationwide - Kendall Bond/CA (1 reply)
8/22/2012 2:20:17 PM (2499 views)

[+] First American - Lucille Femine/TN (12 replies)
8/21/2012 7:04:26 PM (3128 views)

[+] Comment on "Foreclosure Rescue Scam Principal Loses Own Foreclosure Case" - Source of Title/OH (1 reply)
8/21/2012 4:26:53 PM (2262 views)

CO2 emissions in US drop to 20-year low - Scott Perry/PA
8/21/2012 9:08:58 AM (3191 views)


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