§ 58.1-809. When supplemental writings not taxable
Sections 58.1-803, 58.1-807, and 58.1-808 are not to be construed as requiring the payment of any tax for the recordation of any deed of trust, deed of subordination, mortgage, contract, agreement, modification, addendum, or other writing supplemental to any such deed, mortgage, contract, agreement, modification, addendum, or other writing theretofore admitted to record, hereinafter called the prior instrument, upon which the tax herein imposed has been paid, or which is exempt from the tax herein imposed by reason of subsection C of § 58.1-804, when the sole purpose and effect of the supplemental instrument or writing is to convey property, in addition to or in substitution, in whole or in part, of the property conveyed in a prior instrument, to secure or to better secure the payment of the amount contracted for in a prior instrument, to alter the priority of the instrument, or to modify the terms, conditions, parties, or provisions of such prior instruments, other than to increase the amount of the principal obligation secured thereby.
The assumption of a deed of trust shall not be separately taxable under §§ 58.1-801, 58.1-803 or § 58.1-807, whether such assumption is by a separate instrument or included in the deed of conveyance.
(Code 1950, § 58-60; 1977, c. 153; 1981, c. 621; 1984, c. 675.)Sections: Previous 58.1-802.1 58.1-803 58.1-804 58.1-805 58.1-806 58.1-807 58.1-808 58.1-809 58.1-810 58.1-811 58.1-812 58.1-813 58.1-814 58.1-815 58.1-815.1 Next
Last modified: April 16, 2009