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Notice of Option for Recording - District of Columbia

Notice of Option for Recording - District of Columbia 2025

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The document is a Memorandum and Notice of Option to Purchase, outlining an agreement between a Seller and Buyer regarding an exclusive option to purchase real property. It includes details such as the parties involved, property description, option duration, and acknowledgment by notaries.

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What kind of notice does recording give?

Recordation provides constructive notice to any subsequent purchasers that a prior conveyance occurred and therefore protects the prior purchaser in the event of a subsequent conveyance.

How much does it cost to record a deed in DC?

$31.50 for the recordation of Deeds and all other documents. Please note effective July 1st, 2024, this fee will be $30.00.

How to find out who owns a property in DC?

The Office of Tax and Revenues (OTR) real property tax database provides online access to real property information, including but not limited to: property value, owners name and address, the propertys square feet, and use code. Users can also do a search by address to obtain the square, suffix, and lot.

How much does it cost to make a deed?

The county recorders office or land registry will charge a fee to process the deed. These fees range from $10 - $100 per deed, depending on the location. Title Searches. Title searches can range from $75 - $250.

How much is the recordation fee in DC?

Deed Recordation DC Code Citation: Title 42, Chapter 11. 1.45% of consideration or fair market value on the entire amount, if transfer is $400,000 or greater. Note: Fair market value is used when the consideration is nominal, i.e. less than 30% of FMV.

Who will pay the required fees for recording the deed?

Who Is Responsible for Recording the Deed? Typically, the buyer must pay the recording fee when its time to close on a house.

Who pays recordation tax in DC?

The seller typically pays the transfer tax and recordation tax is the responsibility of the buyer, however this can be negotiated.

How long does it take to record a deed?

A properly recorded deed can take anywhere from 14 days to 90 days. That may seem like a long time, but your local government office goes over every little detail on the deed to make sure the property is correct and there are no errors.

Notice of Option for Recording - District of Columbia 2025

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