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For some time now, the State of New Jersey and the local counties have charged a "realty trnasfer price" on the sale of real property in New Jersey with a purpose to gain extra operating income.
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Upon trade of contracts a deposit of £ninety six,000 was paid on terms, considerably unusually, that it's held by the vendor's solicitors as agents for the vendor (slightly than the traditional position where it is held by the seller's solicitors as stakeholder and can't pass to the vendor without the client's consent).
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The work might be carried out by a conveyancing solicitor or a licensed conveyancer.
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