Transfer of PropertyPregunta 94 de 120
California's documentary transfer tax is $0.55 per $500 of value. On a $600,000 sale with no assumed loan, the county transfer tax is:
a.$330
b.$660
c.$1,100
d.$3,300
Explicación
Divide the price by $500 to get 1,200 increments, then multiply by $0.55, giving $660. The documentary transfer tax applies to the consideration paid, excluding any assumed liens. Cities may impose additional transfer taxes.
Referencia Legal: CA Revenue and Taxation CodePractica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- Title insurance protects the insured against:
- An escrow holder in a California real estate transaction acts as a:
- Recording a deed in the county where the property is located gives the public:
- A deed in which the grantor makes the fullest express warranties, defending title against all claims, is a:
- The recorded history of successive owners and conveyances of a parcel is called the:
- A preliminary title report issued before closing primarily:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con California DRE Real Estate Salesperson License Exam · Cómo revisamos