The Battle Against Private Transfer Taxes on Real Estate in South Carolina
Anderson, SC - June 14, 2010 - (RealEstateRama) -- Private transfer taxes are a new and troubling development in real property law. Private transfer taxes allow for private parties to impose real estate transfer taxes or fees on the sale of real property. Private transfer taxes are similar to the real estate transfer tax, except that it is a private party that collects the fee upon every single sale of a particular home, rather than a governmental entityFull article: The Battle Against Private Transfer Taxes on Real Estate in South Carolina ...
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- What is Real Estate Transfer Tax?
The Real Estate Transfer Tax is a tax on the transfer, sale or granting of real property or an interest in real property. The tax is also due on transfers of interests in “real estate holding companies”. The current tax rate is $1.50 per $100 of the price or consideration for the transfer, half payable [...]...
- Real Estate Transfer Return Legislation Improves Efficiency, Security
MADISON — The State Senate today passed a bill regarding the confidentiality and electronic filing of real estate transfer returns, similar to one passed earlier this week by the State Assembly. The Department of Revenue (DOR) applauds this legislation as a step forward in governmental efficiency and privacy protection. ...
- New Jersey REALTORS®: High Taxes on Real Estate Hurt New Jersey’s Bottom Line
Edison, NJ - April 7, 2009 - (RealEstateRama) — The New Jersey Association of REALTORS® (NJAR®) today said the significant downturn in realty transfer fee collections shows that high taxes on real estate have a detrimental impact on the state economy. ...
- NAR Hails Proposal to Restrict GSE Mortgages with Private Transfer Fees
Washington, DC - August 16, 2010 - (RealEstateRama) -- The National Association of Realtors® today commended the Federal Housing Finance Agency for taking steps to restrict government-sponsored enterprises – Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks – from investing in mortgages with private transfer fee covenants....
- FHFA Proposes Guidance to Restrict GSEs from Investing in Mortgages with Private Transfer Fee Covenants
Washington, DC - August 12, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency is proposing a guidance for public comment that would restrict Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages with private transfer fee covenants. The guidance would extend to mortgages and securities purchased by the Federal Home Loan Banks or acquired...
- North Carolina Citizens Say “No” to the Home Tax
Greensboro, NC, November 7, 2007 — By an overwhelming margin, citizens in 16 counties resoundingly defeated a real estate transfer tax on Tuesday night. The proposed transfer tax, also known statewide as the “home tax,” would have resulted in property owners being forced to pay an additional tax just for the privilege of selling their [...]...
- Charleston South Carolina Luxury Real Estate Broker William Means Closes Luxury Property Lowndes Grove Plantation for $6.5 Million
Charleston luxury real estate firm William Means Real Estate recently completed the sale of Lowndes Grove Plantation, the only surviving plantation on Charleston’s downtown peninsula. Owners Alexander and Tina Opoulos, III, listed it for $7.2 million on March 27. Patrick Properties Events LLC purchased the property for $6.5 million, the second highest closing price in [...]...
Articles Category: Laws & Taxes
- Pending Home Sales Rise
Washington, DC - September 2, 2010 - (RealEstateRama) -- Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors
- Real Estate Attorney and Loan Officer Found Guilty in Multi-Million-Dollar Mortgage Fraud Scheme at GuyAmerican Funding
New York, NY - August 27, 2010 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, announced that RAVI PERSAUD,
- Jaclyn J. Janssen Joins Pircher, Nichols & Meeks as Litigation Attorney
Chicago, IL - August 24, 2010 - (RealEstateRama) -- Jaclyn Janssen has joined the national real estate law firm Pircher, Nichols & Meeks as a litigation attorney within its Chicago office. In her new position, she will focus on litigating matters in the areas of real estate development, acquisitions, dispositions, financing, leasing, foreclosures and constructions.
- Florida’s Existing Condo Sales Rise in July 2010
ORLANDO, FL - August 24, 2010 - (RealEstateRama) -- Sales of existing condominiums in Florida rose 11 percent in July, with a total of 5,557 condos sold statewide compared to 4,991 units sold in July 2009, according to the latest housing data released by Florida Realtors®.Eleven of Florida’s metropolitan statistical areas (MSAs) reported higher existing condo sales in July, according to Florida Realtors. The statewide existing condo median sales price last month was $87,200; in July 2009 it was $108,500 for a 20 percent decrease. The national median existing condo price was $181,300 in June, according to the National Association of Realtors® (NAR
- Post-Tax Credit Pause in Illinois Home Sales Activity for July
SPRINGFIELD, IL - August 24, 2010 - (RealEstateRama) -- After nearly a full year of home sales gains statewide, the rush to meet the homebuyer tax credit deadline combined with weak job and economic reports led to a lull in Illinois home sales activity in July. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in July 2010 were down 29.7 percent, totaling 8,135 homes sold compared to July 2009 sales of 11,566 homes. The median price in July 2010 was $160,000, down 4.3 percent from $167,185 in July 2009. The median is a typical market price where half the homes sold for more, half sold for less.
- Statement from Treasurer Clint Zweifel following approval of his plan to provide housing for Missourians with special needs
JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) — On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care:
- Statement from Treasurer Clint Zweifel following approval of his plan to provide housing for Missourians with special needs
JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) -- On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care:



