A deed transferring Florida real property in Pinellas County recites consideration of $143,500. What deed documentary stamp tax is due on the deed when it is recorded?
Correct Answer
C) $1,004.50
Counties other than Miami-Dade generally use 70 cents per $100 or fraction of consideration on a deed. $143,500 ÷ 100 × $0.70 = $1,004.50.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Adverse possession is a legal doctrine that allows a person to claim ownership of land by occupying it continuously for a statutory period under specific conditions, without the true owner's permission.
A bargain and sale deed implies that the grantor holds title and possession of the property but does not include warranties against encumbrances or title defects.
The chain of title is the sequential history of all transfers of ownership for a specific property, from the original source (typically a government patent or grant) to the present owner. An unbroken chain is essential for marketable title.
More Titles Deeds Recording Questions
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Which answer most accurately states the Florida rule for general warranty?
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- → What is the main difference between a general warranty deed and a special warranty deed in Florida?
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Previous Question
A Tallahassee buyer purchases a property and later discovers that the previous owner had granted mineral rights to an oil company, but this was not disclosed in the title search. The buyer has standard owner's title insurance. What is the likely outcome?
Next Question
A single-family dwelling in Miami-Dade County is conveyed for $186,000. Ignoring exemptions and remembering that the surtax does not apply to a document transferring only a single-family dwelling, what deed documentary stamp tax is due?