§ 86-30. Governmental agencies exempt.

(a)

Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, is a party shall be exempt from any tax imposed pursuant to this article when the exempt agency is acquiring title.

(b)

Any tax imposed pursuant to this article shall not apply with respect to any deed, instrument, or writing to a beneficiary or mortgagee, which is taken from the mortgagor or trustor as a result of or in lieu of foreclosure; provided that such tax shall apply to the extent that the consideration exceeds the unpaid debt, including accrued interest and cost of foreclosure. Consideration, unpaid debt amount and identification of the grantee as beneficiary or mortgagee shall be noted on the deed, instrument or writing or stated in an affidavit or declaration under penalty of perjury for tax purposes.

(c)

Any tax imposed pursuant to this article shall not apply with respect to any deed, instrument, or other writing which purports to transfer, divide, or allocate community, quasicommunity, or quasimarital property assets between spouses for the purpose of effecting a division of community, quasicommunity, or quasimarital property which is required by a judgment decreeing a dissolution of the marriage or legal separation, by a judgment of nullity, or by any other judgment or order rendered pursuant to the Family Code, or by a written agreement between the spouses, executed in contemplation of any such judgment or order, whether or not the written agreement is incorporated as part of any of those judgments or orders.

(d)

In order to qualify for the exemption provided in subsection (c) of this section, the deed, instrument, or other writing shall include a written recital, signed by either spouse, stating that the deed, instrument, or other writing is entitled to the exemption.

(e)

Any tax imposed pursuant to this article shall not apply with respect to any deed, instrument, or other writing by which realty is conveyed by the state, any political subdivision thereof, or agency or instrumentality of either thereof, pursuant to an agreement whereby the purchaser agrees to immediately reconvey the realty to the exempt agency.

(f)

Any tax imposed pursuant to this article shall not apply with respect to any deed, instrument, or other writing by which the state, any political subdivision thereof, or agency or instrumentality of either thereof, conveys to a nonprofit corporation realty the acquisition, construction, or improvement of which was financed or refinanced by obligations issued by the nonprofit corporation on behalf of a governmental unit, within the meaning of 26 CFR 1.103-1(b).

(g)

Any tax imposed pursuant to this article shall not apply to any deed, instrument, or other writing which purports to grant, assign, transfer, convey, divide, allocate, or vest lands, tenements, or realty, or any interest therein, if, by reason of such inter vivos gift or by reason of the death of any person, such lands, tenements, realty, or interests therein are transferred outright to, or in trust for the benefit of, any person or entity.

(Ord. No. 97-05, § 2(5), 1-2-1997)

State law reference

Similar provisions, Revenue and Taxation Code, §§ 11922, 11926—11930.