Ga. Comp. R. & Regs. R. 560-11-2-.16 - Real Estate Transfer Tax-Filing Declaration Forms
(1) Except as provided for in paragraph (2)
of this rule, any deed, instrument or other writing which conveys any lands,
tenements, or other realty must be accompanied by Form PT-61 (1 original and 3
copies). Said form shall be properly completed and signed by the seller or his
authorized agent and by the buyer or his authorized agent, prior to such
instrument being presented to the Clerk of Superior Court for recording. As
used herein,"properly completed" shall be deemed to include the following TYPED
or LEGIBLY PRINTED information:
(a) Seller's
Information - The form shall contain the complete name, street mailing address,
city, state and zip code of the seller and the month, day and year the sale
occurred.
(b) Buyer's Information -
The form shall contain complete name, street mailing address, city, state zip
code of the buyer for the purpose of receiving tax notices and billings. The
intended use of the property by the buyer at the time of the transfer shall be
listed and designated as being residential (R), agricultural (A), commercial
(C), or industrial (I).
(c)
Property Information - The complete description of the property being conveyed,
the county name where the property is located shall be listed and the city name
(if the property lies within the limits of a city). The number of acres of
property, map and parcel number, district, land lot and sublot and block shall
be shown.
(d) Value and Tax
Information - The actual value of the consideration received by the seller for
the real and personal property conveyed to the buyer shall be shown separately
on the form(PT-61) prescribed in subsection (c) of Code section
48-6-4.
This consideration total should reflect all cash, other property or goods, and
the assumption of mortgages or other obligations. If the actual value of the
consideration is not known, the estimated fair market value of real and
personal property conveyed should be shown, separately, along with an estimate
of the value of the personal property conveyed. The amount of any lien or
encumbrance prior to the transfer and not removed thereby shall be shown.
1. The actual consideration or the fair
market value, if the actual consideration is not readily determinable, of the
real property conveyed less any liens or encumbrances existing prior to the
sale and not removed by the sale shall be the basis upon which the tax is
computed. The phrase "ten dollars and other valuable consideration" or other
similar phrases are not proper disclosures of consideration. This basis shall
be shown along with the tax due.
2.
The actual consideration of personal property conveyed shall be shown
separately on the form and may be deducted from the basis upon which the tax is
computed if the estimate of personal property is accompanied by appropriate
evidence of its accuracy.
(e) Other Information - Any other information
requested on the most current version of form PT-61 shall be listed.
(f) Certification - The seller or seller's
authorized agent shall certify that all the items of information entered on the
transfer form PT-61 are true and correct (to the best of his knowledge and
belief) and that he is aware that the making of any willful false statement of
material facts will subject him to the provision of the penal law relative to
the making and filing of false instruments.
1. The buyer or buyer's authorized agent
shall acknowledge that, by law, he is required to file a timely property tax
return on all improved and unimproved real property subject to tax on January
1. The buyer or buyer's authorized agent further acknowledges that the property
described on form PT-61 has not been sub-divided or improved during the year of
the transfer and if no tax return is filed, he will be deemed to have returned
it at the same valuation as was finally determined for the year in which the
transfer took place.
2. By filing
the form PT-61, the buyer is not relieved from the responsibility of filing a
new timely return where the property transferred has been split from an
existing property or where there have been substantial changes or new
improvements to the property, nor would the filing of the form PT-61 relieve
the buyer from filing an application for homestead or other exemptions to which
he may be entitled.
(2) The properly completed form PT-61 shall
accompany all deeds, instruments or other writings when these writings are
presented to the Clerk for recording with the exception of the following types
of instruments:
(a) Security deed
instruments;
(b) Instruments
releasing an interest in real estate covered by an existing security deed;
provided the body of the release instrument identifies the security deed and it
specifically states that the purpose of the instrument is to release the
security interest represented by the identified security deed;
(c) Deeds of correction; provided the body of
the corrective deed identifies the existing instrument it is correcting and
specifically states the purpose of the corrections being made to the identified
instrument.
Notes
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