Dollar Houses??

Question

One day I was looking in the Public Notices for people that just perchased their homes and I saw several people had recieved homes and only paid a $1. How can this be?

Answer 1

Lazy journalists

The deed reads $10 or $1 and other good and valuable consideration. . . . not actual sales price

BUT the deed has transfer stamps and those amounts depend on the actual sales price of house

So it is easily determined

Answer 2

Sometimes they list it in the newspaper that way.  I don't know how they can get by doing that but they do.  If you would go to the courthouse and look up the deed I think you would find they actually paid thousands of dollars and not $1.