COMMON EXEMPTIONS TO DOCUMENTARY TRANSFER …

Page 1 COMMON EXEMPTIONS TO DOCUMENTARY TRANSFER TAX R&T = Revenue and Taxation Code Under t he DOCUMENTARY TRANSFER Tax A ct (California Revenue and Taxati on Code 11901- 11934), citi es and counties may impose a tax on each deed or other recorded instrument transferring real property. There may be additional sales, property, or other tax implications when transferring property. The D ocumentary TRANSFER T ax is imposed on all instruments when the purchase price or value of inter est conveyed, less the value of any liens or encumbrances, exceeds $100. There are two questions to ask when determining if you will nee d to pay a TRANSFER tax: 1) Was an interest in real est ate conveyed?; and 2) Was there considerati on for t he conveyance? If yes t o bot h, and if the considerati on or value exceeds $100, then TRANSFER t ax is due. Many COMMON r ecorded instrument s do not actually convey real property, or do not include any considerati on, so the TRANSFER t ax does not apply.

COMMON EXEMPTIONS TO DOCUMENTARY TRANSFER TAX . ... If the owners and their percentages do not change, such as a change from joint tenancy to community property. “This conveyance changes the manner in which title is held, grantor(s) and grantee(s) remain the ... If the deed transfers the property into a living trust

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  Exemption, Joint, Transfer, Common, Tenancy, Deed, Documentary, Joint tenancy, Common exemptions to documentary transfer, Common exemptions to documentary transfer tax

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