Sale history says $1

[Arin Whedbee]

Hi BP, I have been working on some tax delinquent lists in my area and when I search some properties on the towns database, some say it sold for $1. And some say $100. What exactly does this mean? Was it inherited? Thanks, Arin

[Frank Chin]

These would be quit claim deeds. Usually it's among family members, but sometimes between corporate entities. Then in some jurisdictions, taxes are imposed if there's a sales value, so the $1.00 amount circumvents all of that.