D.C. Mun. Regs. tit. 9, r. 9-510
The exemption under Section 302(11) of the Act (D.C. Official Code § 42-1102(11)) is available only for a permanent loan deed of trust or mortgage that directly replaces a construction loan deed of trust or mortgage. For purposes of this Section 510, the term "construction loan deed of trust or mortgage" means a deed of trust or mortgage upon real property which is given to secure a loan for new construction of, additions to, or rehabilitation of improvements, or modifications to land, and the term "permanent loan deed of trust or mortgage" means a deed of trust or mortgage upon real property which secures an instrument made by the same obligors who made the instrument which the construction loan deed of trust or mortgage secured, and which conveys substantially the same real property.
When a permanent loan deed of trust or mortgage is submitted for recordation and the tax on the construction loan deed of trust or mortgage that it replaces has been timely and properly paid, no additional tax liability arises under Section 303 of the Act (D.C. Official Code § 42-1103), except that a tax shall be imposed on the amount by which the principal amount of the permanent loan deed of trust or mortgage exceeds the principal balance due on the construction loan.
In order to qualify for the exemption, the permanent loan deed of trust or mortgage shall contain a reference to the construction loan deed of trust or mortgage and the date of its recordation and its document number.
A refinancing or amendment, modification or restatement of a construction loan deed of trust or mortgage (including replacement thereof by a permanent loan deed of trust or mortgage) shall be taxed in the manner provided in Section 303(a)(3) of the Act (D.C. Official Code § 42-1103(a)(3)).
On a deed conveying a security interest in real property, the principal amount of debt that the deed secures shall be the principal amount of the debt recited on the face of the deed unless, from other information available to the Recorder of Deeds, the Recorder of Deeds determines that the principal amount of debt is a higher amount.
Within thirty (30) days after a security interest in a real property is given pursuant to a construction loan deed of trust or mortgage or a permanent loan deed of trust or mortgage, all transferees of, and all holders of the security interest in, real property shall record a fully acknowledged copy of the security interest instrument, including the lot and square number of the real property transferred or encumbered, with the Recorder of Deeds. If the thirtieth (30th) day is a Saturday, Sunday, or legal holiday, the time limitation for recording shall be extended to include the first day after the 30th day which is not a Saturday, Sunday, or legal holiday.
D.C. Mun. Regs. tit. 9, r. 9-510