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2020 SESSION

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HB 1615 Recordation tax; supplemental writings.

Introduced by: Richard C. "Rip" Sullivan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Recordation tax; deeds of trust or mortgages. Provides that for a deed of trust or mortgage (i) that conveys property that is either (a) partly within and partly outside the Commonwealth or (b) is within the Commonwealth and secures debts secured by deeds of trust on property outside the Commonwealth and (ii) secures the entire amount of that debt, recordation tax shall only be imposed on the proportion of debt that the Virginia property bears to the actual value of the entire amount of property conveyed.


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