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2012 SESSION

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HB 509 Recordation tax; clarifies tax for deeds of trust is based on value of security interest.

Introduced by: T. Scott Garrett | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Recordation tax.  Clarifies that the recordation tax for deeds of trust is based on the value of the security interest created by the deed of trust, not just on the amount of the obligations described in the deed of trust. Therefore, the amount subject to tax does not include any amount that is unsecured because the value of the property conveyed by the deed of trust is inadequate to secure the full amount of obligations described in the deed of trust.


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