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January 17, 2023

Interested in knowing what other partners are saying about how commercial lease agreements are evolving? Access exclusive market intelligence about private commercial lease agreements, as only told by other real estate partners like you. Answer an exclusive, partners-only survey that takes less than 5 minutes to complete (no paperwork needed). Then, access instant results at the end of the survey from other partners. Find out what the most experienced attorneys are saying about the market. If you qualify, you’ll also receive a $25 gift card.* Click here to start the survey 

Real Property Transfer Tax and its Many Aliases

In many states, transfers of real property are subject to a transfer tax—sometimes referred to as a deed transfer tax, real property transfer tax, deed excise tax, real estate excise tax, documentary transfer tax, and state conveyance tax—which is paid to the state, county, municipality, or school district in which the subject property is located. The amount of this tax usually derives from the amount of consideration paid for the transfer and may vary significantly depending on the applicable government entity levying the tax. In certain cities, the transfer tax rate increases based on the consideration paid or the gross value of the property. City taxes can significantly impact high value real property sales. For instance, the City of Los Angeles recently approved an additional transfer tax, known as the “mansion tax,” on real property sales valued at $5 million and above. Click below to read about the Los Angeles mansion tax.

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Related Content

  • Deed Transfer Tax State Law Survey
    Use this resource to determine whether a deed transfer tax is applied in each of the 50 states and the District of Columbia. This state law survey also identifies whether the tax occurs at the state level, the local level, or both, and the relevant tax rates and the governing statutory authority.
  • State Laws and Customs Toolkit Guidance
    Check out this toolkit for additional information regarding transfer tax, including a link to a handy chart outlining the party who is customarily responsible for paying transfer tax in each of the 50 states and the District of Columbia.

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*Offer is void where prohibited by law or by your employer’s policies. Individual must complete the survey in its entirety and in accordance with all instructions above by September 28, 2023 to be eligible for gift card offer. Only one gift card, valued at $25, will be given per individual while supplies last. Employees of any governmental entity are not eligible to participate in this offer. No returns or exchanges. Offer is valid through September 28, 2023. The questionnaire responses will be reviewed for accuracy and relevancy prior to delivery of the gift card. Other restrictions may apply.

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