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Maine Property Transfer Tax

Maine Property Transfer Tax

You are the owner or buyer of Maine property, a listing that has a transfer tax charged to both of you when recording the deed at the local registry.

For years it was the seller alone that paid for actual property transfer tax stamps to apply to the deed of conveyance on a Maine property. And as a Maine real estate broker, when indexing, searching one of the sixteen county registry of deeds, the amount of stamps on the deed let you know what the original cost of the property was.

For years 55 cents per 500 dollars of Maine property value, based on the purchase price was the assessment.

It pumped a nice chunk of change in to the Maine treasury coffers.

Today the transfer tax on Maine property when you march up the court house steps to get your deed processed, recorded at the registry means seller and buyer have to both settle up.

To pay $2.20 per five hundred dollars value each before the Maine registrar can put your property deed on record for the world to see.

That deed is copied, microfilmed and stored in more than one place so if your registry burns down, all is well. And if you lose your deed to the property in Maine, as long as the deed has been recorded, it can be retrieved to show you are the record owner.

Go here to get a Maine transfer tax declaration of value form to go with the Maine deed of conveyance for a property. On the Maine transfer tax declaration of value form the tax map and lot for the property must be defined. It helps the Maine town, plantation or in the case of unorganized townships, the state to keep track of what sold for what. Valuable information to reflect the market for property like it and to help the tax assessor and local Maine appraisers to know what is selling for how much in the real estate market.

Exceptions to the rule on paying a Maine transfer tax  when recording deeds at one of the sixteen county registries are:

1. Governmental conveyances. Any conveyance by or to the United States of America, the State of Maine or any of their instrumentalists, agencies or subdivisions. For purposes of this subsection, only governmental entities are exempt from the requirement to file a declaration;

2. Mortgage. Any mortgage or mortgage discharge;

3. Partial release of mortgage. Any partial release of a mortgage deed;

4. Deed affecting previous deed. Any deed which, without additional consideration, confirms, corrects, modifies or supplements a previously recorded deed;

5. Deed dated prior to October 1, 1975 . Any deed dated or acknowledged prior to October 1, 1975 , and offered for recording after that date; and

6. Deed of distribution. Any deed of distribution made pursuant to Title 18-A.

If the transfer is declared not subject to the tax, the reason therefor shall be stated.

Transfer tax on Maine properties sold and where the deed is recorded at local registries need the buyer and seller to each pay $2.20 per five hundred dollars of value in all other cases than those mentioned above.

Also, Maine is a race notice state. So if you and I received a signed, notarized deed properly prepared to be recorded, mooers-maine realty officeaccepted at the Maine registry of deeds in the county where it is located, whoever puts the transfer on record is the owner. First come, first served. You snooze, you do lose. 

Unrecorded deeds and undischarged Maine mortgages create some of the biggest property selling tangles in small rural areas of the state. Where the property being conveyed inter-family or with the neighbor down the road was a home made handwritten old deed where the transfer compensation was two pigs and a chicken.

I’m Maine REALTOR Andrew Mooers, ME Broker 207.532.6573   [email protected] 

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Andrew Mooers

Welcome to our Maine real estate website. I am the father of four grown children, have listed, marketed, sold properties for over forty years. Lots of changes in the real estate industry over that many decades and daily we re-invent our job. I grew up on a Maine farm that I bought from by three older brothers. My youngest son continues in the tradition on that same Maine farm. Here to help with property searches for homes, farms, land, waterfront, multi housing rentals, small mom and pop business listings.

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