Transfer taxes are fees imposed by the government when ownership of property or assets changes hands. These taxes can apply to various transactions, including the sale of real estate, stocks, or other valuable items. The amount of the tax often depends on the value of the property being transferred and can vary by location. In many places, transfer taxes are calculated as a percentage of the sale price. For example, when a home is sold, the seller or buyer may be responsible for paying this tax to the local or state government. Understanding transfer taxes is important for anyone involved in property transactions, such as homebuyers or real estate agents.