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How much does it cost to transfer a deed in Arkansas?
The current rate for the Arkansas real property transfer tax is $3.30 per $1,000. For a $150,000 home, the buyer or seller in Arkansas will pay $495 for the real property transfer tax.
How do you transfer land ownership in Arkansas?
When transferring property, a seller (often called the grantor), writes out a deed, transferring property to the buyer (often called the grantee). The deed is then recorded with the recorder in the county in which the property is located.
How do you take over a deed?
There are five steps to remove a name from the property deed:
- Discuss property ownership interests.
- Access a copy of your title deed.
- Complete, review and sign the quitclaim or warranty form.
- Submit the quitclaim or warranty form.
- Request a certified copy of your quitclaim or warranty deed.
Does Arkansas have a transfer on death deed?
Use this form to leave your Arkansas real estate without probate. You retain ownership, responsibility, and control over the property during your life. After your death, ownership transfers to the beneficiary you name.
What is the real estate transfer tax in Arkansas?
$3.30 per $1,000
The Real Property Transfer Tax is levied on each deed, instrument, or writing by which any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed. The tax rate is $3.30 per $1,000 of actual consideration on transactions that exceed $100.
What are the requirements for transfer of land title?
Documents Required:
- Certified true copy of the new title or Photocopy of New Title but present original Owner’s copy of the new title.
- Photocopy of the previous title.
- Deed of conveyance.
- Certified true copy of latest Tax Declaration (For BIR purposes)
- Transfer Tax Receipt (original and 2 photocopies)
When to use a deed form in Arkansas?
The Arkansas deed forms are used when a person wishes to transfer their interest in real estate to another person or entity. The conveyance (transfer of property) statutes in Arkansas are located at Title 18 of the Arkansas Code. They provide direction as to how to properly convey property and provide different methods of transferring property.
Where do I go to transfer property in Arkansas?
If not, you can visit the your local county records office in Arkansas where the land is located to get the information that you need. The office can show any liens on the property, which show unpaid debt.
Where do you take title to a property in Arkansas?
Transfers of real property must be in writing and notarized. Deeds should be recorded in the county where the property is located. There are different ways to take title. If you are single, then title is taken as your sold and separate property.
How is a deed used to transfer a property?
In order to transfer ownership of real property from one owner to another, a deed is used. The deed contains the names of the current owner (the grantor) and the new owner (the grantee), the legal description of the property, and is signed by the grantor. Transfers of real property must be in writing and notarized.