She is saying the property was sold for $10 and that is not what that means. Deeds in Texas and presumedly NY say “for $10 and other valuable consideration”. This is generic language for non disclosure states. Meaning the price doesn’t appear on the deed. So we don’t know how much exchanged hands each time it was transferred.
Sometimes it also says $1.00 instead of $10.00.
In Iowa tax revenue will be paid at time of transfer and we can use that amount to calculate the sales price.
She is saying the property was sold for $10 and that is not what that means. Deeds in Texas and presumedly NY say “for $10 and other valuable consideration”. This is generic language for non disclosure states. Meaning the price doesn’t appear on the deed. So we don’t know how much exchanged hands each time it was transferred.
Sometimes it also says $1.00 instead of $10.00. In Iowa tax revenue will be paid at time of transfer and we can use that amount to calculate the sales price.
"That's an interesting thing which of course I did not know. Someone said it could be the notary fees and I thought maybe that's it.
The notary fee would typically be on the order of $10.
But the $10 dollars is meant to be REAL Money not currency. So that the currency provider isn't the owner.