Recording in Pennsylvania
From WFG Wiki
Revision as of 10:24, 8 January 2020 by Bartbodkin (talk | contribs) (Created page with "*Marital Status Stated -- Not Required (but customary) *Transfer Tax -- 2% - 4% purchase price depending on county. Customary to divide the tax equally between buyer and selle...")
- Marital Status Stated -- Not Required (but customary)
- Transfer Tax -- 2% - 4% purchase price depending on county. Customary to divide the tax equally between buyer and seller. If one of the parties is exempt from the tax, the other party must pay the entire tax (tax is imposed on the transaction, not the parties). If both parties are exempt, no tax due.
- Mortgage Tax -- No
- Address for grantor/grantee/property -- Required for grantee and mortgagee
- Witnesses -- Not required
- Names typed/printed -- Yes-under all signatories
- Prepared by/return to -- Required
- Notary Stamp/requirements -- Ink stamp with name of municipality and county in which notary maintains an office and the expiration date of the notary’s commission
- Parcel or tax index number -- Required
- Recitation of Consideration -- Required
- Derivation Clause -- Not required but customary
- Corporate Signatures/Attestation -- Corporate Officer
- Ink Color/Font -- No specific requirement
- Legal Description -- State, County, Municipality, Uniform Parcel ID, (filed map or metes & bounds description generally required for insurability).
- Margins -- Most counties require 1 inch margin on all sides with first page of document also having a 3 inch margin at the top.
