Colorado's documentary fee on real property transfers is calculated based on which of the following?
Correct Answer
D) The consideration paid for the property as stated in the deed
Under C.R.S. § 39-13-102, Colorado's documentary fee is assessed on the consideration paid for the real property, as stated in the deed or other instrument of conveyance. The fee is $0.01 per $100 of consideration (or fraction thereof), making the stated consideration the basis for calculation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. It is originated and funded by private lenders and may be conforming or non-conforming.
The debt-to-income ratio (DTI) compares a borrower's monthly debt obligations to their gross monthly income. It is used by lenders to determine how much mortgage a borrower can afford.
In the context of foreclosure, a deed transfers ownership of the foreclosed property to the new owner, typically the buyer at a foreclosure sale.
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