Sales history of many properties on Broward County Appraiser's website is $100. Why ? Does it mean the property bought from auction (foreclosure) ?
Im going to guess on the information your stating is that the owner Quick claims the property to another person they know (family, friend, business partner etc.) or business they own and they state the change for 100$ to on have to pay tax on 100$.
Im just going on what i think your refering to. Hope this helped.
Other than Quit Claim deeds, many foreclosure auctions show a $100 price when going back to the bank. Say the bank is owed $300k on a $250k property.....they set the minimum bid to buy at $300k (their Max bid).......all bids open from the bank for $100, no one wants to pay $300k for a $200k property, so the property is “sold” to the bank for $100. The easy was to spot that is the document type......CT which stands for Certiifcate of Title.
To add to what a few people have said, you see $100 transfers in many cases for properties transferred within families or for estate purposes. Also, potentially as part of transactions where parties agree to sell businesses or other assets or other properties and the transfer of title is just a part of those larger transactions. It exists because it is basically the minimum amount that can be used to transfer title. You can't give the title over for $0.