Real Estate Department
What is the distinction between single location vs. multiple location transfer? A single location switch means a switch during which the property is located in a single native jurisdiction code. This could also be a single parcel or multiple parcels as long as all parcels are in the identical Real Estate local jurisdiction. For sales in a single local jurisdiction, complete the Single Location Affidavit. In the case of a controlling interest transfer the “selling price” means the true and honest worth of the actual property owned by the entity on the time the controlling curiosity is transferred.
- This will decide the speed for the state portion of REET for the whole sale.
- A controlling interest transfer occurs when there is a 50% or more change of possession in an entity.
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