Maine Revised Statutes Title 36 Sec. 4641-D – Declaration of value
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Except as otherwise provided in this section, any deed, when offered for recording, and any report of a transfer of a controlling interest must be accompanied by a declaration of the value of the property transferred and indicating the taxpayer identification numbers of the grantor and grantee, if they are business entities. The declaration of value with regard to a transfer by deed must include evidence of compliance with section 5250?A. The declaration of value must identify the tax map and parcel number of the property transferred unless a tax map does not exist that includes that property, in which event the declaration must indicate that an appropriate tax map does not exist. The following are exempt from these requirements: [PL 2019, c. 607, Pt. A, §9 (AMD).]
1. Governmental conveyances. Any conveyance by or to the United States of America, the State of Maine or any of their instrumentalities, agencies or subdivisions. For purposes of this subsection, only governmental entities are exempt from the requirement to file a declaration of value;
[PL 2007, c. 437, §14 (AMD).]
Terms Used In Maine Revised Statutes Title 36 Sec. 4641-D
- Consideration: means the total price or amount paid, or required to be paid, for real property valued in money, whether received in money or otherwise and includes the amount of any mortgages, liens or encumbrances thereon, regardless of whether the underlying indebtedness is assumed by the grantee. See Maine Revised Statutes Title 36 Sec. 4641
- Controlling interest: means the following. See Maine Revised Statutes Title 36 Sec. 4641
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deed: means a written instrument whereby the grantor conveys to the grantee title in whole or in part to real property. See Maine Revised Statutes Title 36 Sec. 4641
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Grantee: means the person to whom a freehold estate or interest in land is conveyed. See Maine Revised Statutes Title 1 Sec. 72
- Grantor: The person who establishes a trust and places property into it.
- Grantor: means the person who conveys a freehold estate or interest in land. See Maine Revised Statutes Title 1 Sec. 72
- Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72
- Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
- Taxpayer: means any person required to file a return under this Title or to pay, withhold and pay over or collect and pay over any tax imposed by this Title. See Maine Revised Statutes Title 36 Sec. 111
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
- Value: means the amount of the actual consideration for real property, except that in the case of a gift, or a contract or deed with nominal consideration or without stated consideration, or in the case of the transfer of a controlling interest in an entity with a fee interest in real property when the consideration for the real property cannot be determined, "value" is to be based on the estimated price a property will bring in the open market and under prevailing market conditions in a sale between a willing seller and a willing buyer, both conversant with the property and with prevailing general price levels. See Maine Revised Statutes Title 36 Sec. 4641
2. Mortgage. Any mortgage or mortgage discharge;
[PL 1977, c. 318, §2 (NEW).]
3. Partial release of mortgage. Any partial release of a mortgage deed;
[PL 1977, c. 318, §2 (NEW).]
4. Deed affecting previous deed. Any deed that, without additional consideration, confirms, corrects, modifies or supplements a previously recorded deed;
[PL 2017, c. 402, Pt. E, §5 (AMD); PL 2019, c. 417, Pt. B, §14 (AFF).]
5. Deed dated prior to October 1, 1975.
[PL 2007, c. 437, §14 (RP).]
6. Deed of distribution. Any deed of distribution made pursuant to Title 18?C; and
[PL 2019, c. 417, Pt. A, §109 (RPR).]
7. Transfer on death deed. Any transfer on death deed under Title 18?C, Article 6, Part 4.
[PL 2017, c. 402, Pt. E, §7 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
If the transfer is exempt from the tax imposed by this chapter, the reason for the exemption must be stated on the declaration of value. [PL 2007, c. 437, §14 (AMD).]
The declaration of value must be in a form prescribed by the State Tax Assessor, who shall provide an adequate supply of such forms to each register of deeds in the State. The State Tax Assessor shall prescribe a form for the declaration of value with regard to transfers of controlling interests subject to tax under this chapter. The State Tax Assessor, by rule, may establish grounds and procedures for waiver of the requirement that the taxpayer identification numbers of the grantor and grantee must be shown on the declaration of value. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2?A. [PL 2007, c. 437, §14 (AMD).]
The register of deeds shall transmit the declaration of value to the State Tax Assessor not later than 40 days from the date of recordation of the deed or, in the case of a transfer of a controlling interest subject to tax under this chapter, no later than the 10th day of the month following the month in which the report of the transfer is received by the register of deeds. [PL 2007, c. 437, §14 (AMD).]
The State Tax Assessor shall, on or before the 20th day of the month following the month of receipt, transmit each declaration of value to the assessors of the municipality or the chief assessor of a primary assessing area in which the real estate is situated. [PL 2007, c. 437, §14 (AMD).]
SECTION HISTORY
PL 1975, c. 572, §1 (NEW). PL 1975, c. 655, §2 (AMD). PL 1977, c. 318, §2 (AMD). PL 1985, c. 535, §13 (AMD). PL 1987, c. 568, §§1,2 (AMD). PL 1989, c. 131 (AMD). PL 1991, c. 528, §Y1 (AMD). PL 1991, c. 528, §§Y3,RRR (AFF). PL 1991, c. 591, §Y1 (AMD). PL 1991, c. 591, §Y3 (AFF). PL 1993, c. 398, §5 (AMD). PL 1997, c. 504, §13 (AMD). PL 2001, c. 559, §§I9,10 (AMD). PL 2001, c. 559, §I15 (AFF). PL 2003, c. 391, §3 (AMD). PL 2007, c. 437, §14 (AMD). PL 2017, c. 402, Pt. C, §107 (AMD). PL 2017, c. 402, Pt. E, §§5-7 (AMD). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. A, §109 (AMD). PL 2019, c. 417, Pt. B, §14 (AFF). PL 2019, c. 607, Pt. A, §9 (AMD).