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In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]
Property taxes are based on appraisal of the fair market value of real property. [282] Rates vary from 0.97% on homesteaded property in Ferdinand, Essex County, to 2.72% on nonresidents' property in Barre City. [283] Statewide, towns average 1.77% to 1.82% tax rate. In 2007, Vermont counties were among the highest in the country for property taxes.
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
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Taxed property includes homes, farms, business premises, and most other real property. Many jurisdictions also tax certain types of other property used in a business. Property existing and located in the jurisdiction on a particular date is subject to this tax. This date is often January 1 of each year, but varies among jurisdictions.
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