Guide on How to Fill Out Alabama Real Estate Sales Validation Form
Alabama Real Estate Sales Validation Form or, in short, Alabama form RT-1 is the document that allows a house owner to validate the sale of the real estate. It must be signed by an agent, owner of the property, grantor, or grantee. This form is necessary on Alabama territory and must be in accordance with the Code of Alabama 1975.
What Is Alabama Real Estate Sales Validation Form?
Alabama Real Estate Sales Validation Form is an essential document you have to file during the validation of the property. It acts on the territory of Alabama and is regulated by the Code of Alabama 1975. The form must specify the grantor and grantee and be verified by a second party. You have to make sure that the price you name in the form for the real estate can be verified by the official documents. It is also known as the RT-1 form and is provided by the Alabama Department of Revenue. The form may be required by the IRS and Department of Revenue during the property transfer.
What Is the RT-1 Form Used For?
After you have clarified the question “what is an RT-1 validation form,” you have to find out who requires this form. While it is considered one of the basic forms in Alabama, it might be crucial during numerous acts. The form is usually needed for:
- Validation of the property for the recording taxes and proper payment;
- It is required by the Department of Revenue from real estate owners in Alabama;
- It must be filled and provided by the grantor to the grantee;
- The document may be required by the probate court or any other authority;
- A real estate agent may ask for the form to clarify the information on the price.
How to Fill Out a Real Estate Sales Validation Form?
If you are wondering how to fill out the Alabama Real Estate Sales Validation form, you may need detailed step-by-step guidance. Unfortunately, there is not so much information about the form on the Internet. Since it is only one page long, many people believe it is incredibly easy to file. However, you have to be specific and accurate when filing it since the information may be used in court. The form has to be signed and certified by several parties. To avoid multiple problems, you can use PDFLiner. It allows you to quickly sign the form, share it, and send it by email to a second party. Follow these brief form RT-1 instructions:
- Sign the grantor’s name and mailing address in one column, and put the grantee’s name and mailing address in another;
- Complete the property address;
- Write down the date of sale, purchase amount, actual value, and market value of the assessor. Make sure this data can be verified by official documents;
- You have to provide evidence of the cost by adding one or several documents from the list. Put a tick in the box near the documents you provide: bill of sale, appraisal, sales contract, or closing statement. If you have another document as evidence that verifies the price, you need to write its name in the box “Other”;
- Read the instructions provided in the document below;
- If you agree with the document, and you have checked the price, you have to put the date and print it;
- The form must be verified by another party. The grantor, grantee, agent, or owner of the real estate must sign the form.
When you send this form to the authorities or another party, make sure that you have the documents that verify the price of the mentioned real estate attached. If the price is not appropriate, you will be penalized. Official authority may be charged with a re-evaluation of your property for tax purposes. In case of fraud, you will have to pay a fee, or your case may go to court. If you realize you have made a mistake in the document, you have to contact officials in the Department of Revenue and explain the situation.
How to Sign an RT-1 form?
To sign the form, you might either need to print it and put your signature using a pen or simply to open PDFLiner. PDFLiner allows you to create an electronic signature that is valid in all States and is recognized as official. You can simply click on the field that you have to sign. A new window “Add Signature” will appear. Press “Add New Signature.” You may simply write down your name there or upload the signature you already have on your device. You may also take a photo of the signature and upload it to the document through the “Capture” section.
Read these popular questions about the RT-1 form we have found around the Web. You might find the answers useful for you.
How do I get an Alabama Real Estate Sales Validation Form?
You can find the form on the official website of the Alabama Department of Revenue. You have to enter the name of the form in the search bar. However, there is an easier way to receive it. The form is available here, on PDFLiner. All you need to do is click on it and start filling it.
What does an RT-1 validation form look like?
This form is only one page long. The signed names and addresses of the grantor and grantee must be put at the top of the form. You have to provide the exact purchase price and actual value. The document must be signed by the other party. Attach the document that confirms real estate value to the form.
Who has to fill out the RT-1 form?
The form must be filed by the owner of the real estate who lives in Alabama. It must be made in accordance with the Code of Alabama 1975. The document must be signed by the grantor, grantee, agent, or owner.
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