Escrow & TitleIntermediateNorth Carolina Exam

The North Carolina excise tax (revenue stamps) on a deed is charged at:

A$1.50 per $1,000 of value

B$2.00 per $1,000 of valueCorrect

C$1.50 per $500 of value, in general

D$5.00 per $1,000 of value

Why $2.00 per $1,000 of value Is Correct

Answer B: $2.00 per $1,000 of value

North Carolina's excise tax on real estate conveyances is $2.00 per $1,000 (or fraction thereof) of the sale price.

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

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

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Key Terms to Know

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

Transfer Tax

A tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.

Loan-to-Value Ratio (LTV)

The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.

Easement

A non-possessory right to use another person's land for a specific purpose.

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