Section 350-52-009 - EXEMPT PORTIONS009.01 The transfer by deed of real property from multiple grantors or to multiple grantees, wherein one or more grantor or grantee, as the case may be, is granted an exemption as provided in Reg-52-003, is subject to the tax based upon the proportion of legal title or beneficial interest of the real property transferred by the grantors or to the grantees which are not granted such exemption.009.02 A transfer of a fractional interest to a grantee not entitled to an exemption is subject to the documentary stamp tax upon that fraction of the value of real property transferred.009.03 A transfer of a life estate or remainder interest to a grantee not entitled to an exemption is subject to the documentary stamp tax upon that portion of the value of real property transferred. The value of such portion is the present value as determined under the provisions of the Internal Revenue Code and its applicable regulations with respect to life estates or remainder interests. The present value of the life estate or remainder interest is determined under 26 C.F.R. 20.2031- 7 (1999), or as subsequently revised.350 Neb. Admin. Code, ch. 52, § 009