HB16-1145 - Documentary Fee For Residential Real Property

Passed/Signed into Law
Concerning The Determination Of The Documentary Fee Imposed For Recording A Grant Or Conveyance Of Residential Real Property.

Currently, a person filing a real property conveyance document with a county clerk and recorder must pay a documentary fee if the consideration for the conveyance is more than $500. The amount of the fee is based on the consideration paid, which is the total sales price to the purchaser, unless there is evidence of a separate consideration paid for personal property.

For purposes of the documentary fee, the bill changes the determination of the consideration paid for the grant or conveyance of residential real property as follows:

  • Eliminates any reduction for a separate consideration paid for personal property from the total sales price;
  • Generally requires the consideration amount listed on the grant or conveyance document to be used to determine the documentary fee; and
  • If there is no consideration amount or the amount listed on the grant or conveyance document is $500 or less, and there is a related declaration filed, then the total sales price listed on the declaration is used to determine the documentary fee.

The bill also specifies that, unless indicated as commercial or industrial real property at the time of recording, a grant or conveyance is deemed to be of residential real property for the purpose of determining the documentary fee.

Senate Committees

Latest update: April 15, 2016
04/15/2016 Governor Signed
04/05/2016 Sent to the Governor
04/04/2016 Signed by the President of the Senate
03/30/2016 Signed by the Speaker of the House
03/21/2016 Senate Third Reading Passed - No Amendments
03/18/2016 Senate Second Reading Passed - No Amendments
03/15/2016 Senate Committee on Local Government Refer Unamended - Consent Calendar to Senate Committee of the Whole
03/04/2016 Introduced In Senate - Assigned to Local Government
02/19/2016 House Third Reading Passed - No Amendments
02/18/2016 House Second Reading Passed with Amendments - Committee
02/16/2016 House Committee on Business Affairs and Labor Refer Amended to House Committee of the Whole
01/21/2016 Introduced In House - Assigned to Business Affairs and Labor