How do I file for a transfer of ownership for a property?

P.A. 415 defines transfers and requires that whenever a property transfers ownership, a Property Transfer Affidavit must be filed by the new owner with the assessing officer (even if you are not recording a deed) within 45 days of the transfer. This affidavit must disclose the following:

  • The parties to the transfer
  • The date of the transfer
  • The actual consideration for the transfer (ie: dollar amount), and
  • The property identification number or legal description. The property Transfer Affidavit must be filed within 45 days of transfer.
  • If a Property Transfer Affidavit for residential property is not filed timely, a penalty of $5/day (maximum $200) applies
  • If a Property Transfer Affidavit for commercial or industrial properties is not filed timely, the following penalties apply:
  • If the sale price of the property transferred is $100,000,000 or less, $20 per day for each separate failure beginning after the 45 days have elapsed, up to a maximum of $1,000.
  • If the sale price of the property transferred is more than $100,000,000, $20,000 after the 45 days have elapsed.

Show All Answers

1. What are some common glossary terms?
2. When is tax day?
3. What is a Property Transfer Affidavit?
4. How do I file for a transfer of ownership for a property?
5. Do you charge for a duplicate tax bill?