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Realty Transfer Tax and Mortgage Tax (Tennessee)

Tennessee taxes transfers of a freehold interest at $0.37 per $100 of the consideration or the property's value, whichever is greater, paid by the grantee (buyer), who must swear an oath of consideration. Separately, recording a mortgage or deed of trust triggers an indebtedness tax of $0.115 per $100, with the first $2,000 exempt, paid by the borrower. Leasehold transfers carry no transfer tax, and quitclaim deeds are taxed only on actual consideration.