Maine Revised Statutes Title 36 Sec. 4641-J – Recording without tax
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Terms Used In Maine Revised Statutes Title 36 Sec. 4641-J
- Controlling interest: means the following. See Maine Revised Statutes Title 36 Sec. 4641
- 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
- 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
Any register of deeds who, upon recording any deed or receiving a report of a transfer of a controlling interest upon which a tax is imposed by this chapter, fails to collect that tax or to obtain the declaration of value required by this chapter and does so with the intent of defeating the purposes of this chapter commits a civil violation for which a forfeiture not to exceed $200 may be adjudged. [PL 2001, c. 559, Pt. I, §12 (AMD); PL 2001, c. 559, Pt. I, §15 (AFF).]
SECTION HISTORY
PL 1975, c. 572, §1 (NEW). PL 1977, c. 696, §293 (RPR). PL 2001, c. 559, §I12 (AMD). PL 2001, c. 559, §I15 (AFF).