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Video Guide on Pennsylvania Property Transfer management

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Commonly Asked Questions about Pennsylvania Property Transfer

Pennsylvania realty transfer tax is imposed at a rate of 1 percent on the value of real estate (including contracted-for improvements to property) transferred by deed, instrument, long-term lease or other writing. Both grantor and grantee are held jointly and severally liable for payment of the tax.
Some real estate transfers are exempt from realty transfer tax, including certain transfers among family members, to governmental units, between religious organizations, to shareholders or partners and to or from nonprofit industrial development agencies.
The tax is usually split evenly between the buyer and the seller, but this is not a legal requirement. The City has the right to collect 100% of the tax from either party, so its in the best interest of the buyer to make sure the tax is paid in full at the closing of the sale.
How Do I Transfer a Property Title in PA? Step 1: Determine the Type of Property Transfer. Step 2: Title Search and Insurance. Step 3: Draft and Sign a Deed. Step 4: Pay Transfer Taxes. Step 5: Recording the Deed. Step 6: Notify Relevant Parties. Step 7: Update Property Records.
Can I Transfer a Deed Without an Attorney? The state of Pennsylvania does not require an attorney, but we strongly recommend it.
The cost of transferring a deed in Pennsylvania depends on various factors, such as the propertys value and the county where the property is located. However, the deed transfer tax in Pennsylvania is generally 1% of the propertys value, split evenly between the buyer and seller.
The PA deed transfer tax is generally about 2% of the final sales price, which consists of two different sets of fees: The state of Pennsylvania charges 1% of the sales price. The locality charges a second fee usually totaling about 1%, which is split between the municipality and school district.
Transferring property in Pennsylvania involves the following process: Determine the deed option you are using. Download and fill out the appropriate forms. Fill out the realty transfer tax forms. Sign the deed in front of a notary public. File the transfer with the office of the Recorder of Deeds.