Transfer Of TitleTaxesMEDIUM
New Jersey's Realty Transfer Fee is paid by:
Correct Answer
B) The seller, with some paid by buyer for properties over $1 million
The seller pays the Realty Transfer Fee, but buyers pay an additional 1% mansion tax on properties over $1 million.
Answer Options
A
The buyer onlyB
The seller, with some paid by buyer for properties over $1 millionC
Split equallyD
The lenderAudio Lesson2 min
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Related Topics & Key Terms
Related Topics:
closing-costsnew-jersey-specific-real-estate-regulationspurchase-agreement-termsproperty-tax-assessment
Key Terms:
Realty Transfer Feemansion taxNew Jersey property transferN.J.S.A. 46:15-5closing costs
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