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Unfortunately, the exact name of this file varies a fair bit from state to state, so despite the fact that it serves the exact same basic function, it can appear a bit more complex than it truly is. For  I Found This Interesting : In Arizona, it's called an "Affidavit of Residential Or Commercial Property Value" and it appears like this.

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In Maine, it's called a "Property 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 "Declaration of Worth" and it looks like this. If you're unsure whether your state requires this form, this video discusses how you can figure it out You understand.

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Internal Revenue Service Form 1099-S In numerous (though not all) circumstances, the individual responsible for closing the transaction is needed to file Form 1099-S with the IRS. There are some exceptions where this type isn't needed, however as a general practice, if you're preparing to facilitate the signing of these closing documents yourself, it's a great concept to either: Plan on filing this kind yourself.

Whether you submit the form yourself or designate the other party to do so it's a fairly straightforward procedure (but it can take a little discovering if you have actually never ever done it prior to). To discover more about why the 1099-S is important and how you can manage the filing procedure in your closings, inspect out this post.