§ 26-60-102 - Transfers to which chapter inapplicable. - Arkansas Statutes

26-60-102. Transfers to which chapter inapplicable.

The real property transfer tax imposed by this chapter shall not apply to a transfer of the following:

(1) A transfer to or from the United States, the State of Arkansas, or any of the instrumentalities, agencies, or political subdivisions of the United States or the State of Arkansas;

(2) Any instrument or writing given solely to secure a debt;

(3) Any instrument solely for the purpose of correcting or replacing an instrument that has been previously recorded with full payment of the tax having been paid at the time of the previous recordation;

(4) An instrument conveying land sold for delinquent taxes;

(5) An instrument conveying a leasehold interest in land only;

(6) An instrument, including a timber deed, that conveys or grants the right to remove timber from land if the instrument grants or conveys the right to remove the timber for a period of not to exceed twenty-four (24) months;

(7) An instrument given by one (1) party in a divorce action to the other party to the divorce action as a division of marital property whether by agreement or order of the court;

(8) An instrument given in any judicial proceeding to enforce any security interest in real estate when the instrument transfers the property to the same person who is seeking to enforce the security interest;

(9) An instrument given to a secured party in lieu of or to avoid a judicial proceeding to enforce a security interest in real estate;

(10) An instrument conveying a home financed by the Federal Housing Administration, the United States Department of Veterans Affairs, or the United States Department of Agriculture Rural Development, if the sale price of the home is sixty thousand dollars ($60,000) or less and the seller files with the county recorder of deeds a sworn statement by the buyer stating that neither the buyer nor the spouse of the buyer has owned a home within three (3) years of the date of closing and also stating the sale price of the home;

(11) An instrument conveying land between corporations, partnerships, limited liability companies, or other business entities or between a business entity and its shareholder, partner, or member incident to the organization, reorganization, merger, consolidation, capitalization, asset distribution, or liquidation of a corporation, partnership, limited liability company, or other business entity; and

(12) A beneficiary deed under 18-12-608.