Specialist · Pittsburgh, PA · Member since 2017 · 54 posts · 12 votes
I can't seem to figure out the transfer tax when recording a Quit-claim deed. The purchase was subject to the mortgage and it appears to fall under the confirmatory deed rules which makes it tax-exempt. The coronavirus has closed the office so the advice is limited. Is anyone familiar with the PA transfer tax when purchasing subject to a mortgage?
You will generally need to pay the realty transfer tax based on the last sale price or the assessed value. Quitclaim deeds generally do not qualify as a correctional or confirmatory deed. Those are for situation where there is some kind of "scrivener" error (i.e. typos).
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.