Each instrument conveying an interest in real estate requires its own eRETR receipt. Stats.), requires thatĪll real estate transfer returns are filed electronically.ĭoes the Wisconsin Department of Revenue accept "one transaction - one return" where the Register of Deeds receives multiple deeds conveying different interests in the same property to the same grantee and there is only one receipt filed? As with a Wisconsin income tax form, we ask for a "legal name." Anything after "a/k/a" or "f/k/a" is not the grantor's or grantee's legal name and is not required on the transfer return.Ĭan a paper Form PE-500 be used to record any deed? The eRETR asks for the grantor's or grantee's name. How should a real estate transfer return be completed when the deed lists the person's (or entity's) current name and alternate name or names? Stats.), applies to "Deeds of Trust" when used in place of a mortgage. For a default of a mortgage, a deed conveying the real property interest would have to be given by the borrower or sheriff to the lender or successful bidder. This is different from a mortgage since a mortgage is not a conveyance of real property. If there is a default, the trustee would convey the property to the lender or successful bidder. Since a "Deed of Trust" replaces or serves as a mortgage where legal title to real property is placed with a Trustee (and is considered a conveyance), it needs a transfer return. Deed of Trustĭoes a "Deed of Trust" need a transfer return when it is supposed to be similar to a real estate mortgage? Therefore, the Lottery and Gaming Credit would not apply until January 2019. Since the deed is signed on December 15, 2017, and closing is scheduled for January 6, 2018, the property does not qualify as a Primary Residence as of January 1, 2018. The new owner sued and won the case for another year of exemption as "date of closing" was after January 1.Įxample 2: A claim for the Lottery and Gaming Credit for a primary residence is similar to Example 1. The tax exempt property was put on tax roll for 2018. The date of conveyance was entered as December 15, 2017. The deed is signed December 15, 2017, and closing is January 6, 2018. If the date of closing is changed to a different month or into the next year from what was originally entered, the eRETR "Date of Conveyance" must be changed.Įxample 1: Tax exempt property is sold from a church to an individual. The "Date of Conveyance" is the date the deed is "delivered to the buyer" which is interpreted as the "date of closing" even though the deed may have been signed on a different date. Note: The date recorded and date of conveyance may be the same date if both actions occur on the same dayĭo the "Date of Conveyance" on the eRETR and the date of the deed need to match? What is the difference between "Date Recorded" and "Date of Conveyance"?ĭate recorded - date the Register of Deeds records the instrument of conveyanceĭate of Conveyance - date the instrument is signed and delivered per state law (sec. Is a deed filed to give notice of a domestication under state law (sec.If a domestic partnership agreement is recorded in the county of primary residence, is a separate domestic partner recording required when placing the names of both domestic partners on the deed of a property located in a different county?.Does an employer's extension of benefits to domestic partners qualify a conveyance between domestic partners for an exemption from transfer fee under state law (sec.What information is available for the Domestic Partner Fee Exemption - state law (sec.What is the Wisconsin Department of Revenue's position on value subject to transfer fee on a conveyance of a vacant lot with a contract to construct a building?.How many deeds can be used for this conveyance? Developer (landowner) and builder (improvement owner) are selling to the same party.Does the Wisconsin Department of Revenue accept "one transaction - one return" where the Register of Deeds receives multiple deeds conveying different interests in the same property to the same grantee and there is only one receipt filed?.Can a paper PE-500 be used to record any deed?.How should a real estate transfer return be completed when the deed lists the person's (or entity's) current name and alternate name or names?.Does a "Deed of Trust" need a transfer return when it is supposed to be similar to a real estate mortgage?. Do the "Date of Conveyance" on the eRETR and the date of the deed need to match?.What is the difference between "Date Recorded" and "Date of Conveyance"?.
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