Why does the city assessors listing show that someone paid only $100?

  • Thread starter Thread starter lady luna
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lady luna

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I am comparing properties in an area where I am interested in purchasing a home and am doing my research with the value on other homes in the neighborhood to compare taxes and such. I noticed a few homes were purchased for $100. I know for a fact this is not true. Does it mean the deed was just switched to someone else so technically they own it. Like an estate or family sold it to them inexpensively? I am very curious why this would be.
 
It is an unqualified sale, which is usually between family members or from a person to that same person's living trust.
 
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