What is a valid sale?

A sale is considered valid when the transaction is an arm’s length transaction and conveyance is via a warranty deed. This includes all parties being knowledgeable of the market, making informed decisions without undue influence, having the property exposed to the open market, and/or not involving a financial or governmental agency as the principal buyer or seller.

A sale is considered invalid if it meets one or many of the following: it involves a financial or government agency; multiple parcels are included in a sale price; when one parcel is being divided into multiple parcels; parties are related individuals or corporations; the sale is mandated by the court; when only a portion of the parcel or interest is transferred; when parcels are traded; if a deed other than a warranty deed is used to convey the parcel(s); or if the property was not exposed to the open market.