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A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.
The Land transfer acts, 1875 and 1897 : with a commentary on the sections of the acts, introductory chapters explanatory of the acts, and the conveyancing practice thereunder : also the land registry rules, forms, and fee order, orders in council for compulsory registration, &c., together with forms of precedents and model registers, &c. Author
The quitclaim deed is also sometimes used, although this document is most often used to disclaim any interest in a property rather than selling a property that one owns. A grant deed includes a detailed property description, which helps avoid confusion or disputes regarding the boundaries and characteristics of the property being transferred.
Spouses are free to alter the character of property in this manner, provided that all statutory requirements are met. The principal limitation on transmutation agreements between spouses is that (i) they must be fair and based on full disclosure of the pertinent facts, and (ii) they must not be a fraudulent transfer of assets.
The California Association of Realtors previously sponsored and financed an initiative measure known as 2018 California Proposition 5 on the November 2018 ballot that would have further expanded Proposition 13 property tax breaks for certain homeowners (primarily homeowners over age 55) by allowing them to transfer their lower property tax base ...
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