Escrow & Title
The purpose of a Wisconsin Real Property Transfer Return (PE-500) is to:
AReport the sale to the IRS
BDocument the transfer for the state's real estate transfer fee and property assessment records✓ Correct
CRegister the buyer as the new owner with DSPS
DRequest a property tax exemption
Explanation
The PE-500 Real Property Transfer Return documents the real estate transfer for purposes of collecting the state transfer fee and updating assessment records.
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