in most areas its 2% split evenly between buyer and seller. some areas are higher in Philly it was 5% at one time don’t know what it is now. land trust, living trust, $1 deeds, it makes no difference you pay on the actual sale price and it will be questioned if less that the assessed value. I have even had the state question a low consideration 12 to 18 months after the deed transfer. There is nothing legal that you can do. illegal I would not advise.
David
Can anybody give me some information on what is so special about registering a deed in PA? I heard many people say that when you buy “subject to” or when you transfer property in a land trust in PA, there is a deed transfer tax that you have to pay. Is it correct? What is the amount of the tax? Is a deal killer or there are ways of avoiding it? Will using a living trust instead of a land trust help? What else can one do to legally avoid paying this tax?