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Updated about 5 years ago,

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Mike McCarthy
  • Investor
  • Philadelphia, PA
1,849
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Quitclaim Deed in Philadelphia - Transfer Tax?

Mike McCarthy
  • Investor
  • Philadelphia, PA
Posted

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!

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