Kansas Statutes 79-1437e. Same; inapplicability to certain transfers of title
(a) The real estate sales validation questionnaire required by this act shall not apply to transfers of title:
(1) Recorded prior to the effective date of this act;
Terms Used In Kansas Statutes 79-1437e
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Conservator: means an individual or corporation appointed by the court to act on behalf of a conservatee and possessed of some or all of the powers and duties set out in Kan. See Kansas Statutes 77-201
- Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Kansas Statutes 77-201
- real estate: shall include land, improvements and structures which are appraised as real property;
(f) "director" shall mean the director of property valuation;
(g) "classification" shall mean those classifications which apply to real property contained in Kan. See Kansas Statutes 79-1486
- sales: shall include all transfers of real estate for which a real estate sales validation questionnaire is required by Kan. See Kansas Statutes 79-1486
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
- Trustee: A person or institution holding and administering property in trust.
(2) made solely for the purpose of securing or releasing security for a debt or other obligation;
(3) made for the purpose of confirming, correcting, modifying or supplementing a deed previously recorded, and without additional consideration;
(4) by way of gift, donation or contribution stated in the deed or other instrument;
(5) to cemetery lots;
(6) by leases and transfers of severed mineral interests;
(7) to or from a trust, and without consideration;
(8) resulting from a divorce settlement where one party transfers interest in property to the other;
(9) made solely for the purpose of creating a joint tenancy or tenancy in common;
(10) by way of a sheriff’s deed;
(11) by way of a deed which has been in escrow for longer than five years;
(12) by way of a quit claim deed filed for the purpose of clearing title encumbrances;
(13) when title is transferred to convey right-of-way or pursuant to eminent domain;
(14) made by a guardian, executor, administrator, conservator or trustee of an estate pursuant to judicial order;
(15) when title is transferred due to repossession; or
(16) made for the purpose of releasing an equitable lien on a previously recorded affidavit of equitable interest, and without additional consideration.
(b) When a real estate sales validation questionnaire is not required due to one or more of the exemptions provided in subsection (a), the exemption shall be clearly stated on the document being filed.