Fillable Form 521 - Real Estate Transfer Statement (Page 2 of 2) in pdf

INSTRUCTIONS

The Register of Deeds will not accept a deed for recording unless items 1 through 25 are properly completed and this Real

Estate Transfer Statement, Form 521 is signed.

WHO MUST FILE. Any grantee, or grantee’s authorized representative, who wishes to record a deed to real property must

file this Form 521. A land contract or memorandum of contract requires a completed Form 521, which is not subject to the

documentary stamp tax until the deed is presented for recording.

WHEN AND WHERE TO FILE. This Form 521 must be filed with the Register of Deeds when the deed or land contract

or memorandum of contract is presented for recording.

SPECIFIC INSTRUCTIONS

GRANTEE (BUYER)

ITEM 1. Indicate the county where the property is located. If it is located in more than one county, indicate the county where

the transfer is being filed.

ITEM 4. The date of the deed is the date on which it was signed by the grantor, unless otherwise specified in the deed.

ITEMS 5 AND 6. Enter the complete name, address, and telephone number of the grantor and grantee. Business addresses

should be used for business organizations such as corporations, trusts, and partnerships.

ITEM 7. Indicate the type of property being transferred. Check C only if the property being transferred is a mobile home.

“IOLL” means improvement on leased land. Check only one box in categories A and B.

ITEM 8. Indicate the type of deed being filed. Check only one box.

ITEM 9. Indicate whether the real estate transfer is a like-kind exchange under Internal Revenue Code § 1031.

ITEM 11. Indicate what property interests were transferred. If full ownership was not transferred, check “NO” and explain.

ITEM 12. A “purchase for the same use” means a purchase with the same intended use of the property. Change in use include,

for example, a vacant lot becoming a cemetery or an agricultural lot becoming a subdivision.

ITEM 13. Check the appropriate box to indicate if the transfer was between relatives. “Relative” means a seller is related to

the buyer by blood or marriage.

ITEM 14. Indicate the current market value of the real property. Current market value may be the purchase price paid for the

real property, if the sale is between a willing buyer and a willing seller in the ordinary course of business.

ITEM 15. Indicate whether the buyer assumed a mortgage as part of the purchase price. If a mortgage was assumed, check

“YES” and indicate the amount and interest rate. If no mortgage was assumed, check “NO.”

ITEM 16. If this transfer divides the property into two or more parcels, check “YES.” If this transfer does not divide or split

the property, check “NO.”

ITEM 20. The legal description can be found in the deed or abstract of the real property.

ITEM 21. Indicate the total number of acres included if the transfer was of agricultural or horticultural land. Indicate the

total number of acres included in the sale.

ITEM 22. Enter the total purchase price or consideration paid or to be paid, including cash, mortgages, property traded,

assumed liabilities, leases, easements, and personal property purchased.

ITEM 23. Enter the total dollar value of items which are included in the total purchase price but are not considered a part of

the real property. If there are none, check “NO” and enter zero.

ITEM 25. The list of exemptions is available from the Register of Deeds or at

under “Featured

Information.” Click on “Documentary Stamp Tax” then click on “Documentary Stamp Tax Exemptions Chart.”

AUTHORIZED SIGNATURE. This Form 521 must be signed and dated by the grantee or the grantee’s authorized representative.

The Register of Deeds will not record the deed if items 1 through 25 on this Form 521 have not been completed or the

Form 521 has not been signed by the grantee or authorized representative.

The Register of Deeds will complete items 26 through 29 at the time the deed is recorded.

The Register of Deeds will forward this Form 521 to the county assessor when items 1 through 29 are complete.

Please retain a copy of this statement for your records.

Form 521 - Real Estate Transfer Statement Page 2

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