CLINTON CT REAL ESTATE CONVEYANCE TAX CODE

This type of conveyance is used by mortgage lenders when a borrower has paid off their mortgage with the debt having been satisfied, the lender no longer has conditional claims to the property. As an example, the calculation to determine the tax owed. Also called real estate transfer tax, conveyance tax is generally calculated as a. For a property with a sales price of 2,500,000.00 or less the first 800,000.00 is taxed at 0.75 while the portion that exceeds 800,000.00 is taxed at a rate of 1.25. Conveyance tax is a tax imposed on the transfer of real property, at the state, county or municipal level. Reconveyance deeds are used when prevailing conditions have changed and the deed needs to be 're-conveyed'. The State Conveyance Tax is 0.75 of the sales price for properties with a sales price that is 800,000.00 or less. Conveyance Tax Rates Municipal Tax, State Tax Residential 800,000 or less, 0.25, 0.75 Portion over 800,000, 0.25, 1.25 Non-Residential, 0.25.

Visit portal.ct.gov/TSC and click on Real Estate Conveyance to file the return electronically. Quitclaim deeds are often used for gifting title as it is a basic type of deed that simply convey that the grantor does not hold any interest in the property being transferred. Electronic Real Estate Conveyance (eREC) application. The grantor of a quitclaim deed makes no assertion over the ownership or condition of the property.

Quitclaim deeds are used to convey title without any covenants.

Commonly used by banks on foreclosed properties, these type of conveyances hold little to no claims regarding prior ownership of the property. Grantor/seller 1 (last name, rst name, middle initial) 5.

If more than two grantors/sellers, check here.

Location of property conveyed (number and street) 3.

CLINTON CT REAL ESTATE CONVEYANCE TAX CODE

Bargain and sale deeds, sometimes called special warranty in other states, occur when the grantor makes assertions about the title, but the covenants in the agreement only relate to any time period in which the grantor owned the property. 04/15) OP-236 Real Estate Conveyance Tax Return For Town Clerk Use Only Town Code Land Record Vol.

Clinton ct real estate conveyance tax