Aestar LLC supervises the sale transactions, verifies legal documents, and insures real estate titles.
Aestar LLC is a different title company. Aestar offers knowledge to protect consumers: buyers and sellers.
The scenario is that David co-owns with his uncle a piece of investment property; the market value $500,000, in Montgomery County, Maryland. The unpaid principal balance of the current co-signed mortgage is $280,000. David wants to refinance alone in the amount of $280,000 to pay off the current mortgage and to remove Uncle’s name from the deed. David is willing to pay the entire transfer tax. Thus, the transfer tax = $6,132 =
$1,932 (State Recordation Tax) +
$1,400 (State Transfer Tax) +
$2,800 (County Transfer Tax).
Contact me should you have further questions.
Jonathan Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
C: 240-351-6098 F: 888-501-3060 E: [email protected]
www.aestar-settlements.com
Follow Aestar’s twitter http://www.twitter.com/ASettlements
This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
Copyright©2014-2016 Aestar LLC All Rights Reserved Worldwide
Comments are closed.