Does the DLD assess market value if a contract price seems too low?

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Ali Faizan Syed · Accepted Answer

For the purposes of Fee Assessment, the DLD has the right to verify the property value stated in any disposition. If it appears the stated value is less than the market value, the department can conduct its own valuation. This power ensures that the government collects the correct registration fees and that parties do not provide false information to circumvent the law. This objective assessment maintains a fair revenue system and ensures that all transactions are recorded based on their true economic value.

Does the DLD assess market value if a contract price seems too low?

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Ali Faizan Syed