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How is the land bank fee calculated and who is responsible for its payment?

April 26, 2017Bank calculated fee land payment responsible

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How is the land bank fee calculated and who is responsible for its payment?

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At the time of the transfer, the purchaser is responsible for payment of the fee in the amount of two percent of the purchase price as defined in Section 1 of the Act and Section 1.03 of the Rules and Regulations.