26-60-107. Real Property Transfer Tax Affidavit of Compliance form.

26-60-107. Real Property Transfer Tax Affidavit of Compliance form. (a)(1) The Secretary of the Department of Finance and Administration shall design a “Real Property Transfer Tax Affidavit of Compliance” form. (2)(A) The form shall contain essentially the information prescribed in this section. (B) The affidavit portion of the form shall provide: (i) The name and address of the grantor or seller; (ii) The name and address of the grantee or buyer; (iii) The date of the real property transfer as reflected on the transfer instrument; (iv) The name of the county where the property is located; (v) The amount of the full consideration for the transaction or a statement giving the reason the real property transfer tax does not apply to the transaction unless it is clearly evident from the contents of the instrument to be recorded without reference to any other writing or extrinsic evidence that the instrument is exempt from the real property transfer tax under one (1) of the provisions in § 26-60-102, in which case the county recorder may record the instrument without the affidavit. In any case when the county recorder doubts the entitlement to the exemption, the county recorder shall require the affidavit or a certification, setting out the reasons for the exemption in full to be submitted with the instrument prior to recording the instrument; and (vi) The value of the documentary stamps or documentary symbol attached to the face of the instrument. (b)(1) If the real property transfer instrument is for a transfer upon which no tax is due but is not clearly exempt under § 26-60-102, the affidavit under subsection (a) of this section shall provide for stating this fact and shall be signed by the grantee or his or her agent, whose address shall be included on the affidavit and be presented with the transfer instrument to the county recorder. (2) The secretary shall furnish the “Real Property Transfer Tax Affidavit of Compliance” forms to each revenue office in each county of this state and may make these forms available to the county recorder or any other interested persons in each county upon request to the secretary. (3)(A) The grantee or his or her agent shall complete the affidavit, including a statement of the full consideration for the transaction and the amount of tax to be reflected by documentary stamps or a documentary symbol on the face of the instrument. (B) The grantee or his or her agent shall attach the proper number of documentary stamps or the proper documentary symbol to the face of the instrument in such a manner that all documentary stamps or the documentary symbol will be fully visible in the records of the county recorder where the county recorder maintains records by reproducing the instrument by photographic, photocopy, or other reproductive method. (c)(1) When it is clearly evident from the contents of the instrument without reference to any other writing or extrinsic evidence that the instrument is exempt from the real property transfer tax under one (1) of the provisions in § 26-60-102, the county recorder may record the instrument without requiring the certification allowed as an alternative to the affidavit. (2) If the county recorder doubts the entitlement to the exemption, the county recorder shall require a certification or affidavit setting out the reasons for the exemption in full to be submitted with the instrument prior to recording the instrument. (d)(1) The affidavits in the files of the secretary are public records governed by the same rules as are applied to the disclosure of motor vehicle titling and registration information. (2) The copies of the affidavit in the hands of the county assessor are public records subject to the same laws regarding disclosure as all other taxpayer records of the county assessor. (e)(1) Upon receipt of the instrument, the county recorder shall cancel the documentary stamps or documentary symbol or shall note that the instrument is exempt or that no tax is due on the face of the instrument. (2) The county recorder shall place on the face of the affidavit a file stamp and the book and page or instrument number of the recorded instrument. (f) The secretary may: (1)(A) Investigate the possibility of replacing or supplementing the paper Real Property Transfer Tax Affidavit of Compliance presently used as proof of compliance with the real property transfer tax with alternative proofs of compliance, including without limitation electronic affidavits with electronic signatures. (B) The secretary shall collaborate with attorneys at law, representatives of title companies, county recorders, and other interested parties to recommend an alternative method of providing proof of compliance with the real property transfer tax. (C) If an investigation is undertaken, the secretary shall complete the investigation by July 1, 2012; and (2)(A) Promulgate rules to implement alternative methods of providing proof of compliance with the real property transfer tax that ensure that the grantee is in full compliance with the law and the use of documentary symbols. (B) Before promulgating any rules, the secretary shall report the finding of the investigation authorized under subdivision (f)(1) of this section to the Speaker of the House of Representatives and the President Pro Tempore of the Senate if the General Assembly is in session or to the Legislative Council during an interim.