Under Massachusetts law, all of the following transfers are generally EXEMPT from the deed excise tax (stamp tax) EXCEPT:
Correct Answer
D) A transfer where the grantor receives a mortgage back from the grantee as part of the consideration
Option D is NOT exempt from the deed excise tax. When the grantor receives a purchase money mortgage back from the grantee as part of the consideration, the full consideration (including the mortgage amount) is subject to the deed excise tax under MGL Chapter 64D. The tax applies to the total consideration, including any mortgage assumed or taken back by the seller.
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Related Topics & Key Terms
Key Terms:
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