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> You want to own a house? The government mandates that you acquire and give them a certain amount of US dollars. I have gone through many county clerk & recor
by landemva 4y ago
> You want to own a house? The government mandates that you acquire and give them a certain amount of US dollars.
I have gone through many county clerk & recorder documents. I regularly see 6 and 7 figure houses change hands via recorded quit claim that says things like: 'love and other valuable consideration' or the frequent 'ten dollars'.
And I have read a lot of State law. While there is shady stuff in law such as "federal IRS lien can be recorded without a hearing nor judgment in State court", I have yet to see law which requires $ to exchange a house. Am interested in seeing a State law reference you may know of.
- tonyarkles 4y agoI realize that at the state level in the US things vary by jurisdiction, but in Canada at least you’d be hard pressed to buy property somewhere that doesn’t require annual property tax payments paid in CAD.
- Sparyjerry 4y agoThat's just some dummy language in the deed and not the actual transfer of value. Almost every deed is for around $1 even if the sale price says millions. In the U.S. at least it doesn't matter what you put on the deed, either way they will tax you based on the actual value of the transfer.