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Current as of January 01, 2024 | Updated by FindLaw Staff
1. Any grantee or grantee's authorized agent who presents a deed in the office of the county recorder shall certify on the face of the deed one of the following:
a. A statement of the full consideration paid for the property conveyed.
b. A statement designating one of the exemptions in subsection 6 which the grantee believes applies to the transaction.
2. Any party who presents an affidavit of affixation to real property of a manufactured home in the office of the county recorder in accordance with section 47-10-27 and who acquired the manufactured home before the affixation of the manufactured home to the real property shall either contain in or present in addition to the affidavit of affixation a statement of the full consideration paid by the party for the manufactured home before the affixation.
3. The recorder may not record any deed unless the deed complies with subsection 1 or record any affidavit of affixation unless the affidavit complies with subsection 2.
4. The state board of equalization shall prescribe the necessary forms for the statements and reports to be used in carrying out this section, and the forms must contain a space for the explanation of special circumstances that may have contributed to the amount of the consideration.
5. For purposes of subsection 1, the word “deed” means an instrument or writing whereby any real property or interest therein is granted, conveyed, or otherwise transferred to the grantee, purchaser, or other person, except any instrument or writing that transfers any ownership in minerals or interests in minerals underlying land if that ownership has been severed from the ownership of the overlying land surface or any instrument or writing for the easement, lease, or rental of real property or any interest therein.
6. This section does not apply to deeds transferring title to the following types of property, or to deeds relating to the following transactions:
a. Property owned or used by public utilities.
b. Property classified as personal property.
c. A sale when the grantor and the grantee are of the same family or corporate affiliate, if known.
d. A sale that resulted as a settlement of an estate.
e. All forced sales, mortgage foreclosures, and tax sales.
f. All sales to or from religious, charitable, or nonprofit organizations.
g. All sales when there is an indicated change of use by the new owners.
h. All transfer of ownership of property for which is given a quitclaim deed.
i. Sales of property not assessable by law.
j. Agricultural lands of less than eighty acres [32.37 hectares].
7. Any person that, in the statements provided for in subsection 1 or subsection 2, willfully falsifies the consideration paid for the transferred real property or the manufactured home, as applicable, or interest therein is guilty of a class B misdemeanor.
Cite this article: FindLaw.com - North Dakota Century Code Title 11. Counties § 11-18-02.2. Statements of full consideration to be filed with recorder--Procedure--Penalty - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-11-counties/nd-cent-code-sect-11-18-02-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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