Tax Type
Recordation Tax
Description
Realty Transfer; Grantor's Tax
Topic
Documents Subject to Tax
Date Issued
08-21-1972
An exemption from the realty transfer tax on the grantor of a deed applies only where an encumbrance remains after the transfer of title to the grantee because he has assumed grantor's obligation or takes title to the property subject to the preexisting encumbrance. It is immaterial that the grantor was obligated by the terms of a consolidated mortgage to apply proceeds of the sale to the purchase of other property.
Attorney General's Opinion