Showing posts with label transfer tax exemption. Show all posts
Showing posts with label transfer tax exemption. Show all posts

Sunday, July 06, 2008

query: corrective deed in PA

A corrective deed in one that replaces a deed which has already been recorded but contains an error. You can handle it in one of two ways.

If you have the original deed in hand, you can strike and correct the error, have the parties initial the correction, add a new additional notary acknowledgment that covers the initialing by the parties, and type across the top of the front page the words, CORRECTIVE DEED. It also helps to include a sentence or two giving the purpose of the corrective deed. For instance you could say, "The purpose of this corrective deed is to correct the spelling of the last name of the Grantee."

If you do not have the original deed in hand you can type a whole new deed and have the parties sign and acknowledge it before a notary public. You'll still want to type the words CORRECTIVE DEED across the top of the first page and add a sentence or two explaining the correction. You'll also want to recite back to the deed that was previously recorded that you intend to replace.

In both circumstances, in Pennsylvania, you need to attach duplicate statement of account forms to cover the transfer tax exemption.

The Recorder of Deeds may also require that you attach a copy of the recorded document you are correcting.