What is a PT-61 form in Georgia?

The PT-61 Index contains real time sales and tax data based on the official source of property transfer tax data in Georgia. Before a deed, security instrument, or other writing can be recorded in the office of the Clerk of the Superior Court, a PT61 form must be completed and the real estate transfer tax paid.

Table of Contents

What does PT-61 mean?

PT-61 eFiling. Welcome to the PT-61 E-filing project. The Real Estate Transfer Tax (RETT) is not a property tax. It is an excise tax on transactions involving the sale of real property where title to the property is transferred from the seller to the buyer.

How much is the deed transfer tax in Georgia?

$1.00 per thousand
The State of Georgia Transfer Tax is imposed at the rate of $1.00 per thousand (plus $0.10 / hundred) based upon the value of the property conveyed. Example: A property selling for $550,000.00 would incur a $550.00 State of Georgia Transfer Tax.

How is transfer tax calculated in Georgia?

The real estate transfer tax is based upon the property’s sale price at the rate of $1 for the first $1,000 or fractional part of $1,000 and at the rate of 10 cents for each additional $100 or fractional part of $100.

How do I transfer a deed in Georgia?

Here are the steps to completing a deed transfer in Georgia:

Names the Current Owner and New Owner.
Contains a Description of the Property.
Signed by Current Owner.
Two Witnesses: Unofficial Witness & Notary Public.
Complete a PT-61, Transfer Tax Form.
Record Deed in County Real Estate Records.

How does a quit claim deed work in Georgia?

Updated November 9, 2020 | Legally reviewed by Susan Chai, Esq. A Georgia quitclaim deed transfers all ownership and interest in a property from one person (the grantor) to another person (the grantee). Quitclaims are used to verify that one party relinquishes (“quits”) their interest in the property.

How do I file a quit claim deed in Georgia?

How to Write & File a Quitclaim Deed in Georgia

Step 1: Download the GA quitclaim deed form.
Step 2: Fill out the form.
Step 3: Write the delivery address.
Step 4: Write the preparer’s contact information.
Step 5: Get the necessary signatures.
Step 6: Pay the deed transfer tax.

Who pays the transfer tax in closing in Georgia?

the seller
Almost all standard contracts state that the seller will pay the state of Georgia transfer tax which is a $1.00 per thousand based on the sales price. The seller who agrees to pay closing costs should always place a limit on the amount they agree to pay.

How do you transfer ownership of a house in Georgia?

Can you gift a house in Georgia?

In Georgia, there is no state gift tax. Gifts of real property in Georgia are, however, subject to the federal gift tax. The person or entity making the gift (grantor or donor) is responsible for paying the federal gift tax; however, if the donor does not pay the gift tax, the donee (grantee) will be held liable [2].

How do I remove a name from a deed in Georgia?

The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner’s interest in the property.