Insert Pages To Legal Maine Warranty Forms For Free

§§ 4641-4641-N. The transfer tax is collected on the following two transactions. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. The tax is imposed ½ on the grantor, ½ on the grantee.

The only way to add or remove a name on a deed is to have a new deed recorded. Once a document is recorded, it cannot be altered. In order to protect your legal interests, we strongly suggest that you contact an attorney to have this done for you.

Your client can make an outright gift of real property now or through his or her estate. A gift of real estate that your client has owned for more than a year entitles him or her to a tax deduction for the full fair market value of the property while allowing your client to avoid paying capital gains tax.

A Maine special warranty deed is similar to a warranty deed in that it provides a warranty from a seller to a buyer, but unlike a warranty deed, only guarantees that the seller did not convey any interest to another during the time that the seller owned the property.

In Maine, real estate can be transferred via a TOD deed, which allows a property owner to designate a beneficiary who will automatically inherit the property upon the owner's death, avoiding probate.

If a former owner had the property surveyed, we will show you how to use the plan index to locate it. How do I change a name on my deed? The only way to add or remove a name on a deed is to have a new deed recorded. Once a document is recorded, it cannot be altered.