In Ohio, who is primarily responsible for paying the conveyance fee (transfer tax) at closing?
Correct Answer
A) The seller
In Ohio, the conveyance fee is customarily paid by the seller (grantor) at closing. The fee must be paid before the deed can be recorded by the County Recorder.
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Previous Question
A property in Cuyahoga County, Ohio sells for $400,000. The county has adopted the maximum permissive county conveyance fee of $0.30 per $1,000 in addition to the state fee of $1.00 per $1,000. What is the TOTAL conveyance fee for this transaction?
Next Question
A commercial building in Franklin County, Ohio sells for $1,200,000. Franklin County charges the maximum permissive county fee of $0.30 per $1,000 in addition to the state fee. What is the total conveyance fee?