- A tax placed on the transfer of property in a real estate transaction.
handoff, transfer tax, change of possession, transference
Related Terms and Acronyms
- Land Transfer Tax (LTT) — Acronym,
- A provincial tax payable on any property that changes hands. First time buyers may be eligible for a rebate.
- Property Tax — Definition,
- A levy by a city on real estate and personal property whose amount varies depending on the property's value.
- Real Estate Attorney — Definition,
- A lawyer who specializes in the transfer of land and buildings and property tax issues.