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Christopher, Home Owner in Philadelphia County,...

Is the sale of a property from a parent to a child free of Philadelphia transfer tax?

Asked by Christopher, Philadelphia County, PA Thu Jul 26, 2012

I read that there is no transfer tax between parents and children in Philadelphia. Does this refer ONLY to transfers of deed between direct relatives (for example: for example, from parents to a child) in which there is no money involved or does it also apply where the same relative SELLS a property to another relative (again, parent to child, for example)?

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10
Hi Christopher,

There is no City transfer tax on that transaction, but PA state transfer tax may still be due.

All the best,
Larry Lichtman, CNE
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell/Text: (267) 254-7994
LarrySellsRealEstate@gmail.com

DJCRE, Inc.
Real Estate Sales, Management & Insurance
1611 Snyder Avenue
Philadelphia, PA 19145
Office: (215) 271-7070
1 vote Thank Flag Link Wed Aug 8, 2012
Hi Christopher,

There is not a transfer tax between parent and child in Philadelphia. The following link may be of assistance: http://www.phila.gov/revenue/individual.html

Kind Regards,

Chad
1 vote Thank Flag Link Tue Jul 31, 2012
Your accountant is correct. There is no transfer tax on sales between parent and child in Philadelphia
0 votes Thank Flag Link Sun Jul 29, 2012
Thanks Mark however we have conflicting answers here and I am confused. My accountant says that there is NO transfer tax even if the property is being sold for a normal price. HOW can I get concrete facts? I went to the City of Philadelphia (City Hall) and they gave me a print out stating that "generally there is no transfer tax" in cases like mine. If this is wrong, how can I get some concrete information? Thanks.
0 votes Thank Flag Link Fri Jul 27, 2012
There will be transfer tax UNLESS the sale is between family members for no, or nominal consideration. Essentially you have to be more or less giving the property to the family member. Another way to view is you're just changing the name on the title.
0 votes Thank Flag Link Fri Jul 27, 2012
Ther is never a transfer tax between parent and child including a sale.
0 votes Thank Flag Link Thu Jul 26, 2012
Yes, and state transfer tax too.
0 votes Thank Flag Link Thu Jul 26, 2012
yes there is no transfer tax due between a parent and a child
0 votes Thank Flag Link Thu Jul 26, 2012
Thanks but my question is something else. Is the transfer tax exemption for SALES between immediate relatives or ONLY for transfers in which there is no money involved? Thanks
0 votes Thank Flag Link Thu Jul 26, 2012
You'll be fine.

You MUST use a title company or attorney to do the recording for you.

The City will not accept it directly from you because of fraud prevention.

If you need a recommendation, let me know.

Fred
Web Reference: http://fredglick.com
0 votes Thank Flag Link Thu Jul 26, 2012
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