APPLICABILITY TO CONVEYANCES WHERE THE OWNER CONVEYS TO A CONTRACTOR WHO IN TURN CONVEYS TO A THIRD PARTY

AGO 1960 NO. 135 > Aug 15 1960

TAXATION - REAL ESTATE EXCISE TAX - APPLICABILITY TO CONVEYANCES WHERE THE OWNER CONVEYS TO A CONTRACTOR WHO IN TURN CONVEYS TO A THIRD PARTY

The county real estate excise tax applies to both conveyances where an owner desiring a new home conveys his existing home to a contractor who first uses the old home as collateral to secure a loan under FHA to finance the construction of the new home and then conveys the old home to a third person.

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AGO Opinion Topics: APPLICABILITY CONVEYANCES WHERE OWNER CONVEYS CONTRACTOR WHO TURN CONVEYS THIRD

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