Laurie96778
Junior Member
Hawaii
Hello, we just sold our hold on a "contract for Deed". We will be recording the contract with the State but Deed will not get transferred to purchaser until contract has been fulfilled. So Deed/Title of home will stay in our name but Purchaser is responsible for property taxes etc.
I was getting ready to send in the contract for recordation but then I have to submit a Form P-64B (Waiver of conveyance fee) or a P64-A (with conveyance fee).
They have rules for both here is the exemption:
http://files.hawaii.gov/tax/forms/2015/p64b.pdf
and here is the other form P64-A
http://files.hawaii.gov/tax/forms/2015/p64a.pdf
Question is is conveyance fee due at the time I submit the contract for recordation OR is it due when the contract has been fulfilled and I actually then transfer the Deed over to the purchaser?
When you submit a Deed for recording you also have to submit one of the conveyance fee forms along with the Deed also when that time comes and one wouldn't think you would have to pay double.
Another question - do we HAVE to file the Contract for Deed in order for the purchasers to be liable for the property taxes and to have the tax assessments/statements sent directly to them?
I know in mainland USA I have sold a property on contract but there was no conveyance fee or fees due at the time of recording the contract it was only due at the time of transfering the actual Deed but Hawaii seems to be different.
Alos would I need to file the contract with both Land Court and the Regular system?
I tried calling the Bureau of Conveyances in Hawaii direct a few times but I have yet to receive a call back with answers.
Thank you
Hello, we just sold our hold on a "contract for Deed". We will be recording the contract with the State but Deed will not get transferred to purchaser until contract has been fulfilled. So Deed/Title of home will stay in our name but Purchaser is responsible for property taxes etc.
I was getting ready to send in the contract for recordation but then I have to submit a Form P-64B (Waiver of conveyance fee) or a P64-A (with conveyance fee).
They have rules for both here is the exemption:
http://files.hawaii.gov/tax/forms/2015/p64b.pdf
and here is the other form P64-A
http://files.hawaii.gov/tax/forms/2015/p64a.pdf
Question is is conveyance fee due at the time I submit the contract for recordation OR is it due when the contract has been fulfilled and I actually then transfer the Deed over to the purchaser?
When you submit a Deed for recording you also have to submit one of the conveyance fee forms along with the Deed also when that time comes and one wouldn't think you would have to pay double.
Another question - do we HAVE to file the Contract for Deed in order for the purchasers to be liable for the property taxes and to have the tax assessments/statements sent directly to them?
I know in mainland USA I have sold a property on contract but there was no conveyance fee or fees due at the time of recording the contract it was only due at the time of transfering the actual Deed but Hawaii seems to be different.
Alos would I need to file the contract with both Land Court and the Regular system?
I tried calling the Bureau of Conveyances in Hawaii direct a few times but I have yet to receive a call back with answers.
Thank you
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