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WHAT IS A TRANSFER TAX AND WHO IS RESPONSIBLE TO PAY?
Transfer tax (referred to as documentary stamp tax in Florida) is a tax imposed by states, counties, and cities on the transfer of the title of real property from one person (or entity) to another within the jurisdiction. It is based on the property’s sale price and is paid by the buyer, seller, or both parties upon transfer of real property. Who is responsible to pay? The party transferring or conveying title to the property (the seller) is generally responsible for the paym