§ 26-60-107 - Real Property Transfer Tax Affidavit of Compliance Form. - Arkansas Statutes

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

(a) (1) The Director of the Department of Finance and Administration shall design a "Real Property Transfer Tax Affidavit of Compliance" form which shall be in triplicate.

(2) (A) The form shall contain essentially the information prescribed in this section.

(B) The affidavit portion shall provide space for:

(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 document 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 such an 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 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 same affidavit shall provide for stating this fact and shall be signed by the grantee or his or her agent, whose address shall be included in a space provided on the affidavit and be presented with the transfer instrument to the county recorder.

(2) The director shall furnish a supply of 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 director.

(3) (A) The grantee or his or her agent shall complete the affidavit, including a statement of the full consideration for such transaction and the amount of tax to be reflected by documentary stamps on the face of the instrument.

(B) The grantee or his or her agent shall attach the proper number of documentary stamps to the face of the instrument in such manner that all such stamps will be fully visible in the records of the county recorder where the county recorder maintains records by reproducing the document 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) (A) On receipt and recordation of the instrument, the county recorder will retain two (2) copies of the affidavit.

(B) (i) One (1) copy will be held for the director who will pick up the copies at reasonable intervals.

(ii) The second copy will be held for the county assessor who will pick up the copies at reasonable intervals.

(iii) The third copy shall be returned to the party filing the instrument for record.

(2) (A) The affidavits in the files of the director will be public records governed by the same rules and regulations as are applied to the disclosure of motor vehicle titling and registration information.

(B) The copies of the affidavit in the hands of the county assessor shall be 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 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.