Transfer Of TitleTaxesEASY
The Illinois Real Estate Transfer Tax is paid by:
Correct Answer
C) Customarily the seller, but negotiable
In Illinois, the state transfer tax is customarily paid by the seller, but this is negotiable between the parties.
Answer Options
A
Always the buyerB
Always the sellerC
Customarily the seller, but negotiableD
Split equally by lawAudio Lesson3 min
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Related Topics & Key Terms
Related Topics:
closing-procedurescontract-negotiationseller-disclosure-requirements
Key Terms:
Illinois Real Estate Transfer Tax35 ILCS 200/31-1customary seller costnegotiable closing costsChicago municipal transfer tax
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