Doesn t matter if purchase was done all in cash, etc. It is one-time tax and not paid annually.
Law requires seller delivers recordable deed.
This tax is paid on all new and assumed mortgages. In an assumption, the borrower pays the tax on the unpaid balance of the note. The tax is due when the note is executed. Buyer s fee. This indicates that the mortgage has been recorded and the tax has been paid to either the clerk of the circuit court or to the county comptroller.