Buyer Beware

September 2006Newsletters In The Zone

As seen in the In The Zone newsletter.

New Chapter 33, Laws of 2006, was enacted on July 8, 2006, imposing a 1% fee on Buyers in transfers of Class 4A “Commercial Property.” This new law took effect on August 1, 2006, and applies to transfers of property on or after that date. This fee is payable in transactions in which the entire consideration recited in the deed is in excess of One Million Dollars; however, the fee is calculated and payable on the entire consideration.