Transfer tax
A tax charged by a state, county or city when property changes hands. Rates, names and who pays vary widely by location, and some states have none.
Also called: deed tax, documentary stamp tax, doc stamps, excise tax, conveyance tax
Related terms
Fees and charges paid at closing on top of the price, such as lender fees, title insurance, recording fees, taxes and prepaid items. Buyers often pay around 2% to 5% of the price; sellers pay their own set of costs.
A fee the county charges to record the deed, mortgage and other documents. It is usually small and set by the county, often by page or document.
The signed legal document that transfers ownership from the seller to the buyer. It is recorded with the county after closing to make the transfer part of the public record.
An itemized list of every charge and credit for the buyer and seller in a sale. It shows exactly where each dollar goes at closing and should match the Closing Disclosure.