A property in Los Angeles County, California, sells for $800,000. The county documentary transfer tax rate is $1.10 per $1,000 of consideration. What is the county documentary transfer tax due at recording?
Correct Answer
A) $880
Step 1: Divide the sales price by $1,000: $800,000 ÷ $1,000 = 800. Step 2: Multiply by the tax rate: 800 × $1.10 = $880. The county documentary transfer tax is $880.
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A buyer in California records her grant deed at the county recorder's office immediately after closing. The primary purpose of recording the deed in California is to:
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