1. Georgia Capital Gains Tax Exemption: Leveraging Your Primary Residence The property sold must be your primary residence. The exemption can only be utilized once every two years. You must have lived in the residence for at least two of the past five years.
Does Georgia require a real estate attorney to sell a house? Yes. The state of Georgia requires that a real estate attorney oversee the closing of every real estate transaction.
Follow the instructions closely, and fill out the following information: Purchaser's full legal name as it appears on their driver's license or identification card. Purchaser's current address. Date of sale or ownership transfer. Odometer reading at the time of the transfer. Name and signature of the seller.
Step 5: Complete a Bill of Sale This form can be used as the official document to protect both parties in the case of miscommunication and must be signed by both the buyer and seller. While not legally required, it may be a good idea to have the Bill of Sale notarized.
Is a handwritten bill of sale legal in Georgia? In Georgia, a bill of sale for a car does not need to be notarized. Like the state form provided, any hand-drafted bill of sale will have to contain the following information: The names, contact information, and signatures of the seller and the buyer.
Generally, land trusts will prevent real estate transfer taxes in states where transfer taxes apply.
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.
Transfer tax exemptions Cemetery deeds. Chapter 11 bankruptcy situations. Transfers from a company to an individual or within corporate structures, including mergers. Deeds confirming title already vested, in lieu of foreclosure, of correction, of gift, or based on divorce.