Warranty Deed Filing and fees - Posted by FrankR

Posted by Mike Daly on February 21, 2002 at 19:25:39:

You shouldn’t have to pay transfer tax, just standard recording fees. I’d check on the legal form.

Mike Daly

Warranty Deed Filing and fees - Posted by FrankR

Posted by FrankR on February 21, 2002 at 19:12:45:

Wherever you are located,when using a Land Trust agreement
and preparing to file the Warranty Deed to trustee, are
you required to pay any “transfer tax” or “conveyance fees” before being able to have the deed recorded?
Here in Summit County,Ohio transfer of property into a trust, or even simply re-recording of new deed to show a change of
trusteeship is subject to such fees, in addition to recording costs.
Is it like that where you live?
Is it legal to do what my county does?

Re: Warranty Deed Filing and fees - Posted by BaldRepublican

Posted by BaldRepublican on February 22, 2002 at 12:15:21:

Frank have you found any other investors yet to help pay for the attorney to challenge this? I heard you talk about this at the A/C REIA meeting but had assumed you got some support. Oddly enough I was just filling out my first sub to land trust docs so I don’t of course have the experience with this yet but I know you do alot of them.
To the other posters I don’t believe Frank has a problem with paying redording fees but paying conveyance fees for putting a property in a trust is not supposed to be something that triggers a fee.

(P.S.) Frank next time we will put a least one empty seat between us at the meeting. We are both much to large to be that close.

Re: Warranty Deed Filing and fees - Posted by Rolfe Kurtyka

Posted by Rolfe Kurtyka on February 21, 2002 at 20:30:58:

In Minnesota, in order to have a deed recorded, a deed transfer tax must be paid. The amount is .0033 times the sale price less any assumed mortgage.

Counties collect the tax, and are allowed to place a surcharge on top of the .0033.