Answer:
Answer by Dan Persfull:Taxes other than transfer taxes, are not disclosed on the GFE.
Answer:
Answer by John Burnett:Ad valorem taxes are taxes based on the value of the item taxed. I imagine that the question is about personal property taxes assessed in many jurisdictions against manufactured housing that is not legally real estate until certain installation steps are completed, and in some states, the title document is voided. In any event, as Dan pointed out, taxes other than transfer taxes aren't included on the GFE. On the Settlement Statement (HUD-1 or HUD-1A), the mobile home property taxes would be treated just as real estate taxes would be.
First published on BankersOnline.com 11/22/10
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