Escrow & TitleIntermediateDelaware Exam
In Delaware, transfer taxes on real estate are paid by:
AThe buyer only
BThe seller only
CThe buyer and seller equally, splitting the tax 50/50Correct
DThe title company on behalf of all parties
Why The buyer and seller equally, splitting the tax 50/50 Is Correct
Answer C: The buyer and seller equally, splitting the tax 50/50
Delaware imposes a realty transfer tax split equally between buyer and seller. The total state transfer tax rate is 3% of the purchase price (1.
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
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