Ga. Comp. R. & Regs. R. 560-11-8-.14 - Exemptions
Any mortgage, deed to secure debt, purchase money deed to secure debt, bond for title or any other form of security instrument is not subject to intangible recording tax where any of the following applies:
(a) Where any of the following is a party:
The United States, the State of Georgia, any agency, board, commission,
department or political subdivision of either the United States or this state,
any public authority, any non-profit public corporation, or any other publicly
held entity sponsored by the government of the United States or this
state.
(b) Where any of the
following is Grantee: a federal credit union, a state of Georgia chartered
credit union, or a church.
(c)
Where the instrument is given as additional security, to correct a previously
recorded instrument, or to substitute real estate; provided the body of the new
instrument identifies the existing instrument and specifically states the
purpose of the new instrument.
(d)
Where the instrument does not secure a note, (e.g., guaranty agreement; bail
bond; performance agreement; bond issue; indemnity agreement; divorce decree;
letter of credit).
(e) In the case
of a transfer or assignment, where the original note or the holder of the
original note was exempt.
(f) Where
the instrument is recorded pursuant to a plan of reorganization confirmed under
Chapter II of the U.S. Code and where the instrument is accompanied by
documentation verifying confirmation of the plan of reorganization.
Notes
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