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Unfortunately, the precise name of this document differs a fair bit from state to state, so even though it serves the same standard purpose, it can appear a bit more complicated than it truly is. For selling land fast : In Arizona, it's called an "Affidavit of Residential Or Commercial Property Worth" and it appears like this.

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In Maine, it's called a "Property Transfer Tax Declaration" and it looks like this. In Hawaii, it's called a "Conveyance Tax Certificate" and it appears like this. In Nevada, it's called a "Declaration of Value" and it looks like this. If you're not sure whether your state needs this type, this video describes how you can figure it out You understand.

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Internal Revenue Service Kind 1099-S In many (though not all) scenarios, the person responsible for closing the transaction is required to submit Kind 1099-S with the internal revenue service. There are some exceptions where this kind isn't required, however as a basic practice, if you're preparing to help with the finalizing of these closing files yourself, it's an excellent concept to either: Intend on filing this type yourself.

Whether you submit the type yourself or designate the other party to do so it's a relatively uncomplicated process (but it can take a little learning if you have actually never done it prior to). To get more information about why the 1099-S is very important and how you can deal with the filing procedure in your closings, inspect out this blog site post.