List the contract facts needed before a transfer tax is worked out
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the price, the contract date, the parties, and the land description the contract states. Do not calculate a tax and do not state a rate.
- What the lawyer must review
- You work out any tax, from the statute of the state where the land is. No state transfer-tax rate was opened, so a figure in the output would be a contention without a source. Comment 8 to Rule 1.1 and Formal Opinion 512 require you to check the tool against the current statute. Section 1445 withholding, if the seller is a foreign person, is a different amount and is not a transfer tax. Model Rule 1.4(b) applies to what you tell the client about the figure you later calculate.
- Written for / version
- United States versionUSAU
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes assembling provisional schedules. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.