Rule 560-11-8-.14 - ExemptionsAny mortgage, deed to secure debt, purchase money deed to secure debt, bond for title or any other form of security instrument is not subject to intangible recording tax where any of the following applies:
(a) Where any of the following is a party: The United States, the State of Georgia, any agency, board, commission, department or political subdivision of either the United States or this state, any public authority, any non-profit public corporation, or any other publicly held entity sponsored by the government of the United States or this state.(b) Where any of the following is Grantee: a federal credit union, a state of Georgia chartered credit union, or a church.(c) Where the instrument is given as additional security, to correct a previously recorded instrument, or to substitute real estate; provided the body of the new instrument identifies the existing instrument and specifically states the purpose of the new instrument.(d) Where the instrument does not secure a note, (e.g., guaranty agreement; bail bond; performance agreement; bond issue; indemnity agreement; divorce decree; letter of credit).(e) In the case of a transfer or assignment, where the original note or the holder of the original note was exempt.(f) Where the instrument is recorded pursuant to a plan of reorganization confirmed under Chapter II of the U.S. Code and where the instrument is accompanied by documentation verifying confirmation of the plan of reorganization.Ga. Comp. R. & Regs. R. 560-11-8-.14
O.C.G.A. Secs. 48-5-41(a)(1)(A), 48-6-22, 48-6-60, 48-6-65(a), 48-6-65(a)(2), 48-6-65(b)(1).
Original Rule entitled "Exemptions" adopted. F. Jun. 17, 1996; eff. July 7, 1996.