The costs due when real estate is transferred depend on the type of legal transaction and the property details. A single figure does not apply to every case. A sale, gift, inheritance, mortgage and transfer of co-ownership can have different calculation bases and related taxes.
Information to prepare before estimating costs
- The type of title document and legal transaction.
- The government appraised value and sale price.
- The property’s location and the type of transferor.
- How the property was acquired and how long it has been held.
- The relationship between giver and recipient for a gift or inheritance.
- Any mortgage and the agreement about how costs will be shared.
Start with the Land Department’s tools
Use the Land Department’s transaction-cost calculator to select a sale, gift, inheritance transfer, mortgage, lease or co-ownership transaction, and a property type: land, building, land with a building or condominium unit. The Department says the result is an initial estimate and should still be confirmed with the land office.
For transaction-specific taxes and fees, consult the Land Department’s tax and fee guide and tax guidance from the Revenue Department. Request an assessment from the land office before scheduling a transfer, especially for an inheritance, a corporate seller or multiple co-owners.
The attached video does not explain real-estate transfers and is not evidence for transfer-fee rates. Continue with tax on selling a house or condominium.
Sources: Land Department: initial transaction-cost calculator · Land Department: fee and tax guide.