Virginia Adds Requirement for Recordation Tax Consideration on the First Page of the Security Instrument

Posted:
4/10/2012


The state of Virginia amended provisions relative to the Recordation Tax and the requirement for the consideration to be reflected on the first page of the recorded document. These provisions are effective on July 1, 2012.

Just saw this, will this have any impact on GFE or HUD?

komply,

This is just an administrative/housekeeping change. This amendment did not change the amount of tax or calculation of tax.

§58.1-802 was amended as follows, courtesy of the RichmondSunlight :

"No such deed, instrument or other writing shall be admitted to record without unless (i) the amount of the consideration is stated on the first page of the document to be admitted to record and (ii) certification of the clerk of the court wherein first recorded having has been affixed thereto that the tax imposed by this section has been paid. The clerk shall include within the certificate the amount of such tax collected thereon."

MarkB