Tax Type
Recordation Tax
Description
Deed of Exchange; Exchange of Corporation's Real Estate for Shareholder's Real Estate
Topic
Documents Subject to Tax
Date Issued
02-15-1977
A "deed of exchange' by which a corporation exchanges a parcel of real estate for one owned by its controlling shareholder is subject to the document recording and real transfer taxes. The amount of tax due is computed on the total value of the two parcels. In essence, the transaction constitutes two sales recorded in one instrument.
Attorney General's Opinion