Frequently Asked Questions
Sale
of Real Property
Q: Bob has owned a house and a one-acre lot
in Wake County for 15 years. On December 20, 2003,
Bob sold the house and lot to Ann. On that date, the
Bob signed the deed and Ann paid the purchase price
for the property to Bob. The deed, however, was not
recorded by the register of deeds until January 12,
2004. In whose name should the property be listed
for 2004-05 taxes?
A: The property should be listed in Bob’s
name for 2004-05 taxes. A document must be filed
in the public records, that is, with the register
of deeds or with the clerk of court, showing transfer
of title before the property may be listed in the
transferee’s name. Ownership of real property
is determined annually as of January 1. As of January
1, 2004, Bob was the owner of record as no document
transferring title has been recorded.
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