The Documentary Transfer Tax Act – AB 1888

TransferTaxAct

The Documentary Transfer Tax Act authorizes the board of supervisors of a county or city to impose a tax with respect to specified instruments that transfer specified interests in real property. The act requires the amount of tax due and the location of the property to show on the face of the document, and if the party submitting the document for recordation requests, that the amount of tax due be shown on a separate paper affixed to the document.

The act prohibits the recorder from recording any deed, instrument, or writing subject to the tax, unless paid at the time of recording, and requires a signed declaration of the amount of tax due on the face of the document or on a separate paper as provided by the act.

For more information on how this new legislation can apply to your title and escrow transaction, contact your Ticor Title Sales Executive!

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