Replace Text In Legal West Virginia Real Estate Forms For Free

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.

Declaration of Consideration of Value (This is the monetary amount for which the property is sold. If the property is being transferred without monetary value, it must state in the declaration paragraph 'why' it is exempt from transfer tax.)

The State of Virginia has three transfer taxes and two recordation taxes (think of the recordation tax as a mortgage tax stamp). The buyer typically pays the state and county deed transfer tax. The seller pays a transfer tax to the state, also known as the VA Grantor tax.

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.

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.

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.