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New Transfer Tax Disclosure Requirement Effective January 1, 2015

After January 1, 2015 a new California law will require documentary transfer tax to be included on the face of the property deed.  Prior to enactment of this new law, it has been common practice in commercial real estate purchase and sales transactions to provide the amount of documentary transfer tax via an unrecorded declaration to prevent the final purchase price from being readily ascertainable.  Beginning   January 1, 2015 The amendments enacted by AB 1888 will eliminate this practice.

Under the new law, it will also be a requirement for the property location to be shown on the face of the deed.

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