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Ownership exchange price

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Definition

The total price paid for an object at when the title passed between two owners, including taxes for which the transfer is liable.

How to record

Use local currency. Convert any non-local currency into local, using the exchange rate at date of acquisition. Use Object history note to record details of non-local currency paid.

Examples

750.00

Use

Record once only each time a new Owner is recorded for an object.

Date created: 2017

Author: Collections Trust

Publisher: Collections Trust