Under RSA Chapter 78-B, the New Hampshire Real Estate Transfer Tax applies to most real property conveyances. Which of the following transfers is NOT subject to the NH Real Estate Transfer Tax?
Correct Answer
B) A transfer of real property between spouses as part of a divorce settlement
Under RSA Chapter 78-B, certain transfers are exempt from the NH Real Estate Transfer Tax, including transfers between spouses. A transfer of real property between spouses as part of a divorce settlement qualifies for this exemption. This reflects the policy that interspousal transfers, particularly in the context of divorce, should not be subject to the transfer tax.
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A VA loan is a mortgage guaranteed by the Department of Veterans Affairs available to eligible veterans, active-duty service members, and surviving spouses. It offers no down payment and no private mortgage insurance requirements.
An adjustable-rate mortgage (ARM) has an interest rate that changes periodically based on market conditions, typically after an initial fixed-rate period. The rate adjustment is tied to a financial index plus a margin.
Closing costs are the fees and expenses paid by the buyer and seller at the closing of a real estate transaction, beyond the purchase price. They typically range from 2-5% of the purchase price.
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