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Updated about 5 years ago,
Quitclaim Deed in Philadelphia - Transfer Tax?
I'm considering setting up a revocable living trust here in Philly. As part of that, I'll need to quitclaim deed my properties into the trust. I understand there's a $250 recording fee that goes along with that.
PA seems to specifically state that there's no Realty Transfer Tax with a transfer to a trust, but I haven't been able to find anything about the way Philadelphia handles it.
Also, do most Title Insurance companies handle it the same way? I figure I'll have to inform them, but do I typically have to worry about having to re-purchase title insurance?
Thanks in advance for any suggestions!