Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#1302893 - 12/10/09 06:41 PM Transfer Tax on a home purchase
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Required to be paid by the seller by state law, or just historically done that way?
_________________________
I don't repeat gossip, so listen closely...

Return to Top
#1302971 - 12/10/09 07:28 PM Re: Transfer Tax on a home purchase #Just Jay
WHEDA Offline
100 Club
WHEDA
Joined: Apr 2009
Posts: 189
Wisconsin
Jay, I searched "real estate transfer fee" in Wis Statutes and found this, among others that weren't relevent. This states that it is the Grantor's (seller's) responsibility to pay the fee

77.22 Imposition of real estate transfer fee .

77.22(1)
(1) There is imposed on the grantor of real estate a real estate transfer fee at the rate of 30 cents for each $100 of value or fraction thereof on every conveyance not exempted or excluded under this subchapter. Blah, blah, blah!

This supports the above by stating any excess or shortage in the fee will be charged or refunded to the grantor.

77.26(2)
(2) If the department of revenue determines that the amount of the real estate transfer fee reported was in error or that an exemption was improperly claimed, the department shall compute the additional transfer fee to be paid by, or the amount of the overpayment of transfer fee to be refunded to, the grantor.

http://www.legis.state.wi.us/statutes/Stat0077.pdf

Return to Top
#1302989 - 12/10/09 07:36 PM Re: Transfer Tax on a home purchase WHEDA
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
woo hoo!!!!
_________________________
I don't repeat gossip, so listen closely...

Return to Top
#1303014 - 12/10/09 07:57 PM Re: Transfer Tax on a home purchase #Just Jay
WHEDA Offline
100 Club
WHEDA
Joined: Apr 2009
Posts: 189
Wisconsin
It would appear that this helps you to win an argument?

Return to Top
#1303024 - 12/10/09 08:04 PM Re: Transfer Tax on a home purchase WHEDA
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
oh yes!

thank you!
_________________________
I don't repeat gossip, so listen closely...

Return to Top
#1312283 - 12/23/09 03:23 PM New GFE re: WI transfer tax #Just Jay
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
Forgive me, I've been on vacation and didn't keep up with all the threads. What was finally decided, if anything, on if/how/where we show the transfer tax on the new GFE? Everything I've read talks about taxes but not the transfer tax.

Thanks all! Merry Christmas to all my fellow cheeseheads.

Return to Top
#1312432 - 12/23/09 04:54 PM Re: New GFE re: WI transfer tax Truffle Royale
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Based on the langauge above in state law that the grantor is to be charged, we are not listing it on our GFE.
_________________________
I don't repeat gossip, so listen closely...

Return to Top
#1313254 - 12/24/09 03:37 PM Re: New GFE re: WI transfer tax #Just Jay
Beagles22 Offline
Power Poster
Joined: Jan 2004
Posts: 3,626
State of confusion
I have to agree at this time Truff. We are not listing on the GFE either.
_________________________
Going to church doesn't make you a christian any more that standing in your garage makes you a car.

Return to Top
#1313780 - 12/28/09 05:10 PM Re: New GFE re: WI transfer tax Beagles22
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
Y'all saw this post in the lending forum regarding confirmation from HUD on this subject, didn't you? Printing it for my files!

Return to Top
#1314471 - 12/29/09 04:50 PM Re: New GFE re: WI transfer tax Truffle Royale
Beagles22 Offline
Power Poster
Joined: Jan 2004
Posts: 3,626
State of confusion
Perfect! A direct answer!!
_________________________
Going to church doesn't make you a christian any more that standing in your garage makes you a car.

Return to Top