A county charges $30 to record the first page of a deed and $7 for each additional page. If a deed is 7 pages long, what is the recording fee?
Correct Answer
C) $72
There is 1 first page and 6 additional pages. Fee = $30 + (6 × $7) = $72.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Determining ownership days involves calculating the number of days each party (buyer and seller) owned the property during the relevant period (usually a year). This calculation is crucial for accurate proration.
The gross rent multiplier (GRM) is a quick method for estimating the value of income-producing property by multiplying the property's gross rent by a factor derived from comparable sales. GRM = Sale Price / Gross Rent.
IRV stands for Income, Rate, and Value. It represents the relationship between Net Operating Income (I), Capitalization Rate (R), and Property Value (V).
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