Beaumont Ca Real Estate Voice


New Transfer Tax Disclosure Requirement - 2015


New California Law!

 

After January 1, 2015 a new California law will require documentary transfer tax to be included on the face of a property deed. Prior to enactment of this new law, it has been common practice in commercial real estate purchase and sales transactions to provide the amount of documentary transfer tax via an unrecorded declaration to prevent the final purchase price from being readily ascertainable.

 

Beginning January 1, 2015 the amendments enacted by AB 1888 will eliminate this practice. Under the new law, not only will the location of the property be required to be shown on the face of the deed, but also the amount of the transfer tax due. Pending purchase or sales transactions are not exempted from this requirement.

 

If you have any questions please contact us.

 

Randy Harris  Randy@MrRealEstate-Inc.com

Diana Harris   Diana@MrRealEstate-Inc.com


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