Upcoming Change in Documentary Transfer Tax Disclosure in California
Effective January 1, 2015, purchasers of property in California will no longer be able to hide the amount of transfer tax paid in connection with the acquisition of a new property. AB 1888 has eliminated the ability to file a separate document showing the amount of the transfer tax and the tax now must be shown on the face of the recorded document. A more in depth discussion can be found at Commonwealth Land Title's website.
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