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79-1437e. Same; inapplicability to certain transfers of title. (a) The real estate sales validation questionnaire required by this act shall not apply to transfers of title:

(1) Recorded prior to the effective date of this act;

(2) made solely for the purpose of securing or releasing security for a debt or other obligation;

(3) made for the purpose of confirming, correcting, modifying or supplementing a deed previously recorded, and without additional consideration;

(4) by way of gift, donation or contribution stated in the deed or other instrument;

(5) to cemetery lots;

(6) by leases and transfers of severed mineral interests;

(7) to or from a trust, and without consideration;

(8) resulting from a divorce settlement where one party transfers interest in property to the other;

(9) made solely for the purpose of creating a joint tenancy or tenancy in common;

(10) by way of a sheriff's deed;

(11) by way of a deed which has been in escrow for longer than five years;

(12) by way of a quit claim deed filed for the purpose of clearing title encumbrances;

(13) when title is transferred to convey right-of-way or pursuant to eminent domain;

(14) made by a guardian, executor, administrator, conservator or trustee of an estate pursuant to judicial order;

(15) when title is transferred due to repossession; or

(16) made for the purpose of releasing an equitable lien on a previously recorded affidavit of equitable interest, and without additional consideration.

(b) When a real estate sales validation questionnaire is not required due to one or more of the exemptions provided in subsection (a), the exemption shall be clearly stated on the document being filed.

History: L. 1991, ch. 162, § 5; L. 1992, ch. 159, § 2; L. 1994, ch. 275, § 12; L. 2002, ch. 22, § 1; July 1.


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