(A) The following shall be exempt from the tax levied by this article:
(1) Deed or trust documents involving the exchange of real estate from one spouse to another as a result of a duly executed divorce;
(2) Deed or trust documents which secure debt or other obligation and through which no transfer of possession or use occurs;
(3) Deeds or trust documents which, without additional consideration, confirm, correct, modify or supplement, a deed or trustee document previously recorded;
(4) Deed or trust documents where the actual consideration is less than $100;
(5) Tax deeds;
(6) Deeds or trust documents of release of property, which is security for a debt or other obligation and deeds in the case of a foreclosure or in lieu of a foreclosure in which the buyer does not receive actual consideration in addition to the release of the debt;
(7) Deeds of partition;
(8) Deeds or trust documents made pursuant to mergers, consolidations or transfers or sales of substantially all of the assets of corporations pursuant to plans of reorganization;
(9) Deed or trust documents made by a subsidiary corporation to its parent corporation for no consideration other than the cancellation or surrender of the subsidiary’s stock;
(10) Deeds wherein there is an actual trade or exchange or real estate and trust documents wherein there is an actual trade or exchange of beneficial interests; except that, the money difference or money’s worth paid from one to the other shall not be exempt from the tax;
(11) Deeds representing transfers subject to the imposition of a documentary stamp tax imposed by the government of the United States; except that, such deeds shall not be exempt from filing the declaration; and
(12) Deeds or trust documents involving real estate acquired by or from any governmental body, but not including transfers made in Sheriff’s sales or sales by Fannie Mae or Freddie Mac. This exemption, however, shall not be granted where the transfer is made to or from a governmental body which leases or expresses an intent to lease to a majority of the land, or in the case of a building, the structure, to a non-governmental body.
(B) Every deed or trust document which is tax exempt pursuant to this section shall be presented to the Director of Finance so as to be appropriately marked by the Director to be eligible for recordation without the payment of tax. At such time as a deed or trust document is presented to the Director, pursuant to this section, there shall be filed with the Director a certificate setting forth the facts which justify the exemption of the deed or trust document presented. The certificate shall be executed on behalf of either the grantor or grantee and shall be on a form provided by the Director.
(Ord. 92-04-41, passed 4-14-1992; Ord. 93-02-18, passed 2-23-1993; Ord. 98-06-39, passed 6-1-1998; Ord. 2009-11-62, passed 11-16-2009)