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Sadly, the specific name of this file differs quite a bit from state to state, so despite the fact that it serves the same basic function, it can appear a bit more complex than it actually is. For example: In Arizona, it's called an "Affidavit of Property Worth" and it looks like this.

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In Maine, it's called a "Real Estate 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 "Statement of Value" and it appears like this. If you're unsure whether your state needs this form, this video explains how you can figure it out You get the idea.

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IRS Type 1099-S In many (though not all) scenarios, the person accountable for closing the transaction is required to submit Kind 1099-S with the IRS. There are some exceptions where this form isn't needed, however as a basic practice, if you're planning to assist in the finalizing of these closing documents yourself, it's a good idea to either: Intend on filing this form yourself.

Whether you submit the form yourself or designate the other party to do so it's a relatively straightforward procedure (but it can take a bit of finding out if you've never ever done it prior to). For  Check it Out  about why the 1099-S is necessary and how you can manage the filing procedure in your closings, have a look at this blog site post.