When real property is conveyed by deed, the state of Kentucky collectstransfer taxon the consideration in the deed. The tax is computed at the rate of $0.50 per $500 value of the property, or any fraction thereof. The grantor is required to pay the transfer tax. If the deed is a gift...
Gather information about your home and property. You will need to provide the street address for your property to get a copy of your deed. You will need the names and addresses of the former owners of the property to transfer the deed. Other information you need includes city and county wh...
You simply won't find a safer, more secure way to transfer real estate ownership. I am reminded of a quote that I heard from The Great One, professional hockey superstar, Wayne Gretzky... "You miss 100% of the shots you don't take." But in order to make your shots, you must firs...
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Some otherclosing costs commonly paid by the sellerinclude transfer taxes and title fees. Additionally, if the home still has a mortgage on it, you’ll have to pay that off in full (typically out of your sale proceeds). Your real estate agent or the closing agent should provide you with...
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and delays associated with probating a will. With a living trust, you maintain control of the property until your death. If you wish to include your home or other real estate property in your living trust, you must also file a deed transfer that shows the living trust as the new owner....
The transfer of property from the estate of deceased parents to their heirs is documented by filing a legally recognized deed at the office of the county clerk. This document may take the form of either an executor's deed or an administrator's deed, depending on the specific circumstances of...
The Uniform Gifts to Minors Act (UGMA) allows individuals to give or transfer assets to underage beneficiaries. The act, which was developed in 1956 and revised in 1966, is commonly used to transfer assets from parents to their children.1The amount is free of gift tax, up to a certain a...
How To Build Your Homebuying Team Jul 01, 2024 3. Find the Right Property The trick to finding the right property is making an upfront wishlist. For example, is a single-family detached home with a big yard for a couple of kids and a dog your priority, or do you want a condo with...