A single-family residence sells for $90,750 with an existing $30,000 first trust deed lien which the buyer assumed. There are no other liens or encumbrances in existence at this time. The property was subject to the documentary transfer tax at the rate of $0.55 per $500. This would result in a tax of most nearly:
A: $57;
B: $67;
C: $83;
D: $100.
Answer: B: $67;
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Baird conveys property to Carr for Carr's lifetime and designates Leslie to be the remainderman. Then Carr dies, what ownership interest would Leslie have the property?
A. Leasehold Estate. B. Estate in reversion. C. Fee simple estate. D. Life estate.
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TLI is an absolute fit index
Indicate whether the statement is true or false
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