FinancingClosing_costsMEDIUM
Alabama's transfer tax (recording tax) is:
Correct Answer
B) $0.50 per $500 of consideration (effectively $1.00 per $1,000)
Alabama imposes a deed transfer tax of $0.50 per $500 of consideration ($1.00 per $1,000) at the time of recording.
Answer Options
A
No transfer taxB
$0.50 per $500 of consideration (effectively $1.00 per $1,000)C
5% of sale priceD
$10 per $1,000Why This Is the Correct Answer
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Related Topics & Key Terms
Related Topics:
closing costsdeed recordingmortgage recording taxAlabama Code §40-22-1probate court
Key Terms:
transfer taxrecording taxdeed tax$0.50 per $500Alabama Code §40-22-1probate court
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