Prepare Legal West Virginia Deed Of Trust Forms For Free

West Virginia levies a deed transfer tax (often referred to as an excise tax) on real property. The tax is $1.10 per $1,000. Each county has the authority to establish its own excise tax rate, which the majority do. West Virginia does not have a mortgage tax.

Trust deeds are common in Alaska, Arizona, California, Colorado, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Tennessee, Texas, Virginia, and West Virginia.

You must sign the deed and get your signature notarized, and then record (file) the deed with the clerk of the county commission before your death. Otherwise, it won't be valid. You can make a West Virginia transfer on death deed with WillMaker.

The state calls West Virginia's transfer tax an excise tax on the privilege of transferring real property. It is paid to the county clerk when recording most real estate deeds. The tax amount is based on the property's value and is charged at a rate of at least $1.65 per $500.00 of value.

The followings are exempt from the transfer tax: (1) wills; (2) testamentary or inter vivos trusts; (3) deeds of partition; (4) deeds made pursuant to mergers of corporations, limited liability companies, partnerships, and limited partnerships; (5) deeds made pursuant to conversions to limited liability companies; (6) ...

In the state of West Virginia, it is usually customary for the seller to pay all transfer taxes. However, this isn't dictated by state or federal legislation, meaning that it is possible that a negotiation process might take place.