Under New Hampshire's Real Estate Transfer Tax (RSA Chapter 78-B), all of the following transactions are generally subject to the transfer tax EXCEPT:
Correct Answer
D) A transfer of real property between spouses as part of a divorce settlement for no monetary consideration
Under RSA 78-B:2, certain transfers are exempt from the New Hampshire Real Estate Transfer Tax. Transfers between spouses — including those made pursuant to a divorce decree or separation agreement — are among the recognized exemptions when there is no monetary consideration or the transfer is made to effectuate a property settlement. Because the transfer in option C involves no monetary consideration and occurs between spouses as part of a divorce settlement, it qualifies for the exemption from the transfer tax.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Highest and best use is an appraisal concept that identifies the most profitable, legally permitted, physically possible, and financially feasible use of a property. It is the foundation of all property valuation.
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
The income approach estimates a property's value based on the income it generates by converting net operating income into a value estimate using a capitalization rate. It is the preferred method for income-producing properties.
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- → External obsolescence in Oklahoma:
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