We know as Pennsylvania real estate owners that having a deed is critical to the sale. But maybe some of us do not realize the intricacies of deeds and what legal rights they possess. Though our team at Mazzoni Karam Petorak & Valvano can handle all of your real estate transactions, we know you may have questions about the process. Take a look at the Pennsylvania deed requirements.
For a deed to legal in Pennsylvania, it must meet the following basic requirements:
A deed only pertains to the title of the real estate. Improvements made to the property are not affected by the deed or vise versa.
Each county in the Keystone State has a Recorder of Deeds office that is responsible for recording all deeds transferring real estate titles within the county.
There are state-mandated requirements for how a deed is to be presented. This includes the format, specific locational information, and notary acknowledgments.
The Recorder of Deeds will also collect any transfer taxes.
In addition, the county may have its own requirements for deed transfers. This can include being registered with the Assessment office, and information about the property assessor. A real estate attorney can go over the legal requirements for your county while working through the process with you.
In Pennsylvania, there are state and local taxes for recording a deed that transfers real estate titles. The state tax in the Keystone State is 1% of the value of the real estate. However, local taxes may vary but will often include municipality and school districts.
Failure to pay these taxes will result in the deed not being accepted.
In Pennsylvania, there are three types of deeds. They are:
A general warranty deed offers the most legal protection to new property owners. When drafting the deed or transferring real estate, it is imperative to know what legal ramifications you may be up against.
Since 1962, the Scranton real estate attorneys at Mazzoni Karam Petorak & Valvano have been representing clients throughout the Northeastern Pennsylvania region. With an impressive track record and years of experience, our team knows real estate law from top to bottom in Pennsylvania. If you have questions pertaining to a deed transfer, we can help. Contact our attorneys today to schedule a free consultation.
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