Transfer tax
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The term transfer tax has more than one legal meaning.
In a narrow legal sense, a transfer tax is essentially a transaction fee (often relatively small in relation to the value of property) imposed on the transfer of title to property. This kind of tax may be imposed where there is a legal requirement for registration of the transfer, such as transfers of real estate, shares, or bonds. Examples of such taxes include some forms of stamp duty, property transfer tax, and levies for the formal registration of a transfer. In some jurisdictions, transfers of certain forms of property require confirmation by a notary. The notary's fees can be considered a form of transfer tax, although they are not payable to a governmental tax authority.
More broadly, in the United States, the term transfer tax also refers to two kinds of taxes imposed at the national level: the estate tax and the gift tax. These kinds of transfer taxes are often much more substantial in amount than the transaction fees described above.
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