Form M20 - Mortgage Registry And Deed Tax Page 2

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Codes for Form M20
Mortgage registry
• Federal Home Loan Mortgage
12 A deed for a cemetery lot or lots.
Corporation (“Freddie Mac”)
13 A deed of distribution by a personal
tax exemptions
representative.
• Federal National Mortgage Association
Code
(“Fannie Mae”)
14 A deed to or from co-owners partition-
1 Decree of marriage dissolution or an
ing their undivided interest in the same
• Government National Mortgage
instrument made pursuant to it.
piece of property.
Association (“Ginnie Mae”)
2 Mortgage given to correct a misdescrip-
15 A deed or other instrument of convey-
tion of the mortgaged property.
• National Consumer Cooperative Bank
ance issued pursuant to a permanent
3 Mortgage or other instrument that adds
school fund land exchange under
• Small Business Administration
additional security for the same debt for
section 92.121 and related laws.
• Federal Land Bank Associations
which mortgage registry tax has been
16 A referee’s or sheriff ’s certificate of sale
–Ag Star Financial Services, FLCA
paid.
in a mortgage or lien foreclosure sale.
–Ag County Farm Credit Services,
4 Mortgage secured by real property
17 A referee’s, sheriff ’s or certificate
FLCA
subject to the minerals production tax
holder’s certificate of redemption from a
–Farm Credit Services of Grand Forks,
(MS sections 298.24 to 298.28).
mortgage or lien foreclosure sale issued
FLCA
5 Mortgage loan made under a low and
to the redeeming mortgagor or lienee.
–Farm Credit Services of Minnesota
moderate income or other affordable
Valley, FLCA
18 A deed, instrument or writing that
housing program if the mortgagee is a
grants, creates, modifies or terminates
B. Mortgages exempt if one of these
federal, state, or local government
an easement.
entities is acting as mortgagor
agency (Revenue Notice # 01-05).
19 A decree of marriage dissolution, or a
(borrower):
6 A mortgage granted by a Fraternal
deed or other instrument between the
• Federal Credit Unions
Benefit Society (borrower) (MS 64B).
parties to the dissolution made pursuant
• Federal Deposit Insurance
7 Mortgage amendment or extension, as
to the terms of the decree.
Corporations
defined in section 287.01.
Minimum deed tax
8 Agricultural mortgage whose proceeds
• Federal Reserve Banks
are being used to acquire or improve
claims
($1.65)
• Resolution Trust Corporations
real property that is, and will be, used
Code
for the production of agricultural
• U.S. Department of Housing and
products. Note: The proceeds of the
20 Reorganizations. Transfers made by
Urban Development
loan used for nonexempt purposes are
instruments pursuant to mergers,
• U.S. Postal Service
subject to tax.
consolidations, sales, or transfers of
substantially all of the assets of the
• U.S. Rural Telephone Bank
9 Federal government and agencies:
entities as defined in section 287.20,
A. Mortgages exempt if one of these
• U.S. Rural Utilities Service (RUS)
subd. 9, pursuant to plans of reorgani-
entities is acting as either mortgagor
zation.
• U.S. Dept. of Veterans Affairs
(borrower) or mortgagee (lender):
21 Consideration less than $500. There is
• Commodity Credit Corporation
Deed tax exemptions
no consideration, or when the consider-
ation (exclusive of the value of any lien
• Farm Credit Banks
Code
or encumbrance remaining thereon at
– Agribank (i.e., Farm Credit Bank of
10 An executory contract for the sale of real
the time of sale) is $500 or less.
St. Paul)
property under which the purchaser is
– AgAmerica Farm Credit Bank
22 Revocable trusts. Transfers to or from
entitled to or takes possession of the real
revocable trusts.
• Farm Housing Assistance
property, or any assignment or cancella-
– USDA Rural Housing Service
23 Gift. Conveyance is without any
tion of the contract.
mortgages that secure a Section 502,
conditions, force of duty or obligation,
11 A deed, instrument or writing in which
504, 514, 516 or Rural Rental Housing
or expected benefits or rewards.
the United States (or any agency or
Preservation Direct Loan.
instrumentality of thereof) is the
grantor, assignor, transferor, conveyor,
• Farm Service Agency
grantee or assignee.
• Federal Financing Bank
Code 24. If the above codes do not apply, use code 24 and explain below. Attach additional sheets if necessary.

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