Why Is It Important?
In the State of Nevada, when you change the ownership of real property by Deed, the County will consider it a taxable transfer unless a qualified exemption is properly prepared and submitted requesting a waiver of the Real Property Transfer Tax (RPTT). Each County’s rate is slightly different. An example, currently, in Clark County, Nevada, the transfer tax is calculated at $2.55 per $500.00. The tax value varies depending upon whether it is a purchase or other type of transfer.
Why are we addressing this? We are often contacted requesting to add a spouse, parent, or adult child to the Title of their home, and that is something we do all the time. Where the situation gets sticky is when the legal last names are different, and they would like to have the Transfer Tax waived. For example: As a result of a marriage, one or both of the spouses changes their last name. Multiple marriages, blended families, and legal name changes all have the potential to complicate the waiver of RPTT in Nevada.
How do we remedy this complication? We create a document with all the variations of the names that are then signed and notarized. This document is used as supporting documentation when we submit the Deed for recording requesting the waiver of Transfer Tax. The certificates that are required by the County to show proof of names, relationships, and changes are:
- Birth Certificate
- All Marriage Certificates
- Divorce Decrees and Settlement Agreements
- Domestic Partnership Certificate
- Court Ordered Name Change
All Certificates must be in English. In the event it is in a foreign language, a certified and notarized translation by a qualified translator must be presented along with the original certificate. We may be able to locate a qualified translator for you. If you don’t currently have original certificates, you can order them from the respective Country, State, County or City.
Note to Self – it is easier to avoid these name complications. Please remember to check any legal documents you sign to be certain that your Legal Name is used throughout the document and you sign accordingly. Please avoid nicknames, variations, etc. It is YOUR responsibility to give third parties (loan officers, bankers, real estate professionals, attorneys, etc.) your true Legal Name. Then verify it on every document you receive.
Quick Claim USA and their employees are not attorneys in the State of Nevada or in any other State or Jurisdiction. Quick Claim USA is not licensed to give legal advice and may not accept fees for giving legal advice. Should you have questions regarding any of the above items, you must seek the advice of independent legal/tax counsel of your choosing. 702.233.4014 or email: [email protected]
