Okuzeka
Real Estate vocabulary · Fees, Costs & Taxes

Transfer tax

Meaning in real estate, with examples

nounCommon term

In real estate, transfer tax means: A tax charged when ownership of a property passes from one person to another, usually calculated as a percentage of the price.

In Turkish: tapu harcı, devir vergisi

How it is used

A general term used in the US and in international reports; in England the local version is stamp duty. Whether the buyer or the seller pays depends on the country and sometimes on the contract.

Example sentences

  1. In some states the seller pays the transfer tax; in others the buyer does.

  2. Foreign buyers often ask how the transfer tax is calculated in Turkey.

Common collocations

  • pay the transfer tax
  • real estate transfer tax
  • transfer tax rate
  • stamp dutyA tax paid in England and Northern Ireland by people who buy property or land above a certain price. Its full name is Stamp Duty Land Tax (SDLT).
  • closing costsThe fees and charges paid when a property sale is completed, on top of the price, such as lender fees, title insurance, taxes and legal costs.
  • property taxA tax that owners pay every year, usually to the local government, based on the value of the land and buildings they own.
  • capital gains taxA tax on the profit made when you sell an asset, such as a property, for more than you paid for it.

More terms: Fees, Costs & Taxes

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: