West Virginia Complex Services Clauses Basic Approach

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Multi-State
Control #:
US-OL16013A
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This office lease form lists the services provided by the landlord. This form states the days and times that the services are available to the tenant as well as the maintenance and operations of each.

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FAQ

Oral contracts are spoken agreements. Agreements that are not in writing may sometimes be binding. There are certain limitations on the enforceability of oral employment contracts that do not exist for written employment contracts.

Declaration of Consideration of Value (This is the monetary amount for which the property is sold. If the property is being transferred without monetary value, it must state in the declaration paragraph 'why' it is exempt from transfer tax.)

6.1. Recording Without Stamps. -- Any clerk who shall record any document without the proper documentary stamp or stamps affixed thereto, as is indicated in such document or accompanying declaration, shall, upon conviction in a court of competent jurisdiction, be fined fifty dollars.

West Virginia levies a deed transfer tax (often referred to as an excise tax) on real property. The tax is $1.10 per $1,000. Each county has the authority to establish its own excise tax rate, which the majority do. West Virginia does not have a mortgage tax.

The basic filing fee to record a West Virginia deed is $27.00, which includes a $2.00 preservation fee. The clerk charges an extra $1.00 fee for each page beyond five pages. A deed transferring real estate for consideration costs an extra $20.00 fee.

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West Virginia Code §11-22-1, provides for exemptions to paying the Transfer Tax Fee. Deeds must specifically state the reason for exemption, otherwise, the Transfer Tax Fee will be charged. Every Deed recorded requires a completed Sales Listing Form to be attached. The Sales Listing Form can be found here.

West Virginia has legalized TOD deeds by enacting the WV Real Property Transfer on Death Act. Previously, a property owner would most likely have named a beneficiary by creating a life estate with a remainder interest, a more complicated option usually involving a property lawyer.

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West Virginia Complex Services Clauses Basic Approach