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Sadly, the specific name of this file varies quite a bit from one state to another, so although it serves the exact same standard function, it can seem a bit more complex than it truly is. For example: In Arizona, it's called an "Affidavit of Property Worth" and it appears like this.

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In Maine, it's called a "Realty Transfer Tax Statement" and it appears like this. In Hawaii, it's called a "Conveyance Tax Certificate" and it looks like this. In Nevada, it's called a "Declaration of Value" and it appears like this. If you're unsure whether your state needs this type, this video describes how you can figure it out You understand.

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IRS Form 1099-S In lots of (though not all) situations, the person responsible for closing the transaction is required to file Kind 1099-S with the IRS. There are some exceptions where this form isn't required, but as a basic practice, if you're planning to help with the finalizing of these closing files yourself, it's an excellent idea to either: Intend on filing this kind yourself.

Whether you file the form yourself or designate the other party to do so it's a fairly uncomplicated procedure (however it can take a little finding out if you've never done it before). To read  Check it Out  why the 1099-S is very important and how you can deal with the filing procedure in your closings, examine out this post.