CHAPTER 179

SB 42 – FINAL VERSION

27Apr2011… 1350h

2011 SESSION

11-0944

10/09

SENATE BILL 42

AN ACT relative to the declaration of consideration for purposes of the real estate transfer tax.

SPONSORS: Sen. Odell, Dist 8

COMMITTEE: Ways and Means

ANALYSIS

This bill requires the declaration of consideration used in determining the real estate transfer tax to be filed by each party to a transaction.

This bill is a request of the department of revenue administration.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

27Apr2011… 1350h

11-0944

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eleven

AN ACT relative to the declaration of consideration for purposes of the real estate transfer tax.

Be it Enacted by the Senate and House of Representatives in General Court convened:

179:1 Real Estate Transfer Tax; Declaration of Consideration. Amend RSA 78-B:10 to read as follows:

78-B:10 Declaration of Consideration Required.

I. A declaration of consideration shall be filed separately by the purchaser, grantee, assignee, or transferee and by the seller, grantor, assignor, or transferor with the department of revenue administration for each transfer of real estate or interest therein. The commissioner of revenue administration shall adopt rules, pursuant to RSA 541-A, relative to the form of such declaration of consideration. Each form shall:

(a) Contain a conspicuous declaration of the price or consideration exchanged for the real estate transferred, which shall say substantially: “__________ (buyer’s name) and ______________ (seller’s name) agree and affirm that the full price or consideration paid for the real estate transferred by this deed is $_____. The tax due upon this transfer is calculated at $ _____ per $100 or any part thereof, for an amount due of $ _____ (computed to the nearest whole dollar).”

(b) Contain a space immediately below the statement in subparagraph (a) for the dated and witnessed [signatures of both buyer and seller] signature of the purchaser, grantee, assignee, or transferee of the deeded real estate on their respective declaration of consideration and for the dated and witnessed signature of the seller, grantor, assignor, or transferor of the deeded real estate on their respective declaration of consideration.

II. The declaration of RSA 78-B:10, I(a) shall be prima facie evidence of the price or consideration paid for the real estate.

III. A declaration shall not be required for the following:

(a) Transfers exempted by RSA 78-B:2, except transfers exempted by RSA 78-B:2, IX.

(b) Transfers involving only utility easements.

IV. The [declaration] declarations required by this section shall be filed [with the department of revenue administration] separately by the purchaser, grantee, assignee, or transferee, and the seller, grantor, assignor, or transferor with the department of revenue administration, no later than 30 days from the recording of the deed at the registry of deeds or transfer of real estate, whichever is later.

V. No deed, recording a transfer of real estate or any interest therein, executed before January 1, 1990, shall be required to comply with this section.

VI. Failure to comply with this section shall not be construed to cloud title.

179:2 Effective Date. This act shall take effect 60 days after its passage.

Approved: June 14, 2011

Effective Date: August 13, 2011