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Form 488 (RTC) Revised 02/09 REALTY TRANSFER CERTIFICATE CONFIDENTIAL TAX DOCUMENT WHO MUST FILE: Any party transferring real property regardless of whether the transfer is or is not evidenced by deed or instrument or any party presenting an instrument or deed evidencing a transfer of real estate for recordation. Real estate includes land, growing timber, buildings, structures, fi xtures, fences, and improvements affi xed to land. YOU MAY OWE INCOME TAXES: Any gain on this transfer is Montana source income and should be reported to the Department of Revenue on the appropriate income tax return. WHEN AND WHERE TO FILE: The completed Realty Transfer Certifi cate must be fi led with the County Clerk & Recorder when the instrument or deed evidencing a transfer of real estate is presented for recording. If the transfer is by operation of law, then a Realty Transfer Certifi cate with the required supporting documentation should be fi led with the local Department of Revenue Offi ce where the property is located. Please see Part 4 for further detailed information. The Department of Revenue will change the ownership record when this form is fully and accurately completed and signed. PART 1 – DATE OF TRANSFER (SALE) This should be the date on which the instrument or deed was executed (the date the instrument or deed was signed by the Seller (Grantor) and Buyer (Grantee) unless otherwise specifi ed in the deed or date of decedent’s death). Contracts for Deed and Notices of Purchaser’s Interest should use the date the contract or notice was initially signed, not the date the contract was fi nalized. PART 2 – PARTIES Seller (Grantor)/ Buyer (Grantee): Enter the names of the seller (grantor) and buyer (grantee) exactly as they appear on the transferring document. Business organizations, corporations, trusts, etc. should enter their name(s) exactly as it appears on the transferring document. Addresses: For the seller (grantor) enter the current mailing address. The seller (grantor) and the buyer (grantee) are requested to mark Yes or No to indicate if the property subject to this transfer has been or will be the location of their principal residence. A principal residence is a residential dwelling that was occupied, in the case of the seller (grantor), or will be occupied, in the case of the buyer (grantee), by the owner for at least 7 months (198 days) of the calendar year. For the buyer (grantee) enter the permanent mailing address. If the tax notice is to be sent to a different mailing address, please complete the additional mailing information. SSN or FEIN: For individuals, list the last 4 digits of the social security number of all legal owners named in the transferring document. Business organizations, corporations, trusts, etc. list the last 4 digits of the federal ID number(s) of the legal entity(ies) named in the transferring document, § 15-1-201, MCA and 42 USC § 405(c)(2)(C)(i)(iv). The Department of Revenue utilizes personal identifi cation numbers to cross match Realty Transfer Certifi cates with income tax returns to ascertain taxpayer compliance on gains from real estate sales or transfers and to identify delinquent taxpayers. Additional SSN or FEIN numbers (last 4 digits) may be provided on an attachment. Daytime Phone: Enter phone numbers for both the seller (grantor) and buyer (grantee). PART 3 – PROPERTY DESCRIPTION This section identifi es the parcel that is being transferred by location and is the legal description found on the instrument or deed conveying the real estate or the abstract to the real estate. The property description may be provided on an attachment, and be identifi ed by checking the applicable box. PART 4 – TYPE OF TRANSFER (Please refer to “When and Where to File” above.) Transfer by Recorded Instrument: Check the box(es) that apply to the type of transfer for which an instrument has been recorded with the County Clerk and Recorder. Transfer by Operation of Law: Check the box(es) that apply to the type of transfer. A copy of the following applicable documentation must be attached to the Realty Transfer Certifi cate. • Termination of Joint Tenancy by Death – death certifi cate and deed that created the joint tenancy with right of survivorship. • Court Decree - • Personal Representative, Special Administrator or Public Administrator – death certifi cate, order of appointment and letters of administration and an affi davit that their appointment has not been terminated. • Conservator – Order of Appointment and Letter of Conservatorship or copy of the order terminating the conservatorship. • Merger, consolidation or other business reorganization – Plan of Reorganization. • Name change only – documents fi led with the Secretary of State to accomplish the name change. PART 5 – EXCEPTION FROM PROVIDING SALES PRICE INFORMATION If any of the exceptions listed apply to this transfer, please check the appropriate line and do not complete Section 6. If you are unsure whether this transaction should be defi ned as an exception, or if you have any other questions concerning exception status, please request a determination from your local Department of Revenue Offi ce. PART 6 – SALE INFORMATION (If there is no exception checked in Part 5, you must complete this section.) CONFIDENTIALITY: Sale information is confi dential and only for offi cial use by the Department of Revenue. Enter the total purchase price paid for the sale parcel. This should include cash, mortgages, property traded, liabilities assumed, leases, easements and personal property. Financing: If you paid cash for the entire sale parcel, check the box in front of Cash. If you fi nanced the property by receiving a loan indicate the type by checking the appropriate box; Federal Housing Administration (FHA) Loan, Veterans Administration (VA) Loan or Conventional. If this was a contract for deed or trust indenture, indicate by checking the box in front of Contract. If there was some other type of fi nancing used such as a Montana Board of Housing Loan, trade of property, etc. please indicate by checking the box in front of Other. Also, indicate whether this was a new loan or an assumption of an existing loan. Personal Property: Enter the dollar amount of any personal property included with the sale of this parcel. Personal property includes furniture and fi xtures, business and farm equipment, livestock, recreational vehicles, leases and easements, and mobile homes. Anything that is permanently attached to the real estate should not be included. Negligible personal property included in a residential sale need not be reported. SID (Special Improvement District – liens levied against the property for amenities like street paving, sewers, water systems, etc.): Please answer the questions by checking the appropriate boxes, also include the amount of the SID paid or assumed. Value of Inventory: Please provide the value of any business inventory that was included in the sales price. Value of Licenses: Please provide the value of any licenses included in the sales price i.e., liquor licenses, gambling licenses, etc. Value of Good Will: Please provide the value of Good Will included in the sale price. (Good Will is defi ned as “the economic advantage over competitors that a business has acquired by virtue of habitual patronage of customers”.) PART 7 – WATER RIGHTS DISCLOSURE – This disclosure must be completed and signed by the seller or the seller’s legally appointed agent. Refer to page 2 for further information about the disclosure. If Box D has been checked, the Certifi cation of Water Right Ownership Update (page 5) must also be signed by the seller (grantor), the buyer (grantee), and the escrow agent (if applicable) to enable recordation of the deed or instrument by the County Clerk and Recorder. PART 8 – PREPARER INFORMATION - All Realty Transfer Certifi cates must be signed and dated by the preparer. By his/her signature the preparer indicates the information provided is true and correct to the best of his/her knowledge, that the seller (grantor) and the buyer (grantee) have examined the completed Realty Transfer Certifi cate and agree the information contained within is correct and accurate. Page 1 ---PAGE BREAK--- WATER RIGHT DISCLOSURE INFORMATION The Water Right Disclosure is required by Montana Law. Legislators decided it is important for both the buyer and seller of property to know what the water right situation is — whether any water rights exist, and whether they are being transferred with or withheld from the property. A water right is a legally protected right to benefi cially use water in priority that was obtained in accordance with Montana law. Buyers should be careful to investigate whether water being used on a piece of property amounts to a valid water right, or is merely an unauthorized and unprotectable use of water. In Montana all irrigation water rights must have a valid DNRC water right number to be of record. However, existing rights for livestock and individual domestic, as opposed to municipal uses, based on an instream fl ow or groundwater source before July 1, 1973, do not need a DNRC water right number. If a water right does not have a DNRC number, and does not fall within the above narrow exception, then there is no water right. Once the water rights appurtenant to a piece of property have been identifi ed, the investigation of water right should not stop there. Although a water right may have a valid DNRC water right number, it may still be subject to fi nal adjudication in Montana’s general stream adjudication. The Montana Water Court is currently adjudicating all Statements of Claim for pre-July 1, 1973, water rights. How good a water right is depends on how it comes out of the adjudication, and how its priority compares to other water rights on a source of supply. You may need to consult an attorney or water rights consultant for an opinion as to the status of that water right. The Montana Water Court can answer questions about the current status of Statements of Claim being adjudicated by calling 1-[PHONE REDACTED] (in state) or [PHONE REDACTED]. If there are water rights which have been historically used on the property being transferred, but are not going to be transferred in the sale of land, the deed must specifi cally exempt (reserve) those water rights from the land sale. Otherwise, if the deed is silent, the water rights automatically pass with the land by operation of law. The following descriptions may be of some help in determining which box to mark in Part 7, Water Rights Disclosure. If further assistance is needed, you may want to seek legal advice. CHECK ONLY ONE BOX (on Part 7, Water Rights Disclosure on page 3) To correctly complete this water right disclosure the seller needs to know if there are water rights in the seller’s or previous land owner’s name that are on record with the Department of Natural Resources & Conservation (DNRC). A. Property is served by a public water supply, i.e., city or water district provides water. Check this box if the water you use on the land described in this document is provided by a city, town, water users association, or other entity. The seller does not need to fi le a Water Right Ownership Update form. B. Seller has no water rights on record with DNRC to transfer. Check this box if you do not have any water rights on record with the Department of Natural Resources & Conservation. The seller does not need to fi le a Water Right Ownership Update form. C. Seller is transferring ALL water rights on record with DNRC to the Buyer. If all of the water rights you (seller) have on record with the DNRC will be transferring to the buyer, check this box. The seller does not need to fi le a Water Right Ownership Update form. All of the water rights associated with the land described in part 3 will have the owner name automatically updated. The fee for the ownership update must be submitted to the DNRC with the following information: the buyer’s name and address, the seller’s name and address, the geocode, the water right numbers being transferred, and the amount of the fee. The fee and the fi ling fee log sheet can be found at the following website, www.dnrc.mt.gov/wrd/water_rts/HB39/. Submit the fee and fi ling fee log sheet to OWNERSHIP UPDATE, DNRC, PO BOX 201601, HELENA MT 59620-1601. DNRC will send an acknowledgement of the ownership update to the new owner. D. Seller is dividing or exempting (reserving) water rights. Seller must fi le Water Right Update form. If you (seller) have divided the property and water rights or have exempted (reserved) the water rights (not transferred with the land sale), check this box and complete the Certifi cation on page 5. The seller must submit an Ownership Update–Exempt (Reserved) Water Right Form No. 642 and fi ling fee identifying which water right has been kept by the seller. If a water right has been divided, the seller must fi le an Ownership Update-Divided Interest Form No. 641 and fi ling fee explaining how and with whom the water right was divided. Contact the DNRC for information if water is used on the property other than described above. Page 2 ---PAGE BREAK--- REALTY TRANSFER CERTIFICATE CONFIDENTIAL TAX DOCUMENT The information contained in this certifi cate is confi dential by Montana law. Unauthorized disclosure of this information is a criminal offense. GEOCODE(S) ASSESSMENT CODE: PART 1 – DATE OF TRANSFER (SALE) The Department of Revenue will change the name on ownership records used for the assessment and taxation of real property when this form is fully and accurately completed and signed. (Please read the attached instructions on page 1 for assistance in completing and fi ling this form). Montana law requires this form be completed and may impose up to a $500 penalty for failure to fi le a Realty Transfer Certifi cate (15-7-304, 305 and 310, MCA) PART 2 – PARTIES Please complete this section in full, if additional space is required, please attach a separate page BUYER (Grantee) Name Mailing Address (Permanent) City ST Zip Buyer Principal Residence __Yes __No Mailing Address For Tax Notice (If different) City ST Zip PART 3 – PROPERTY DESCRIPTION Please complete fully, if additional space is required, please attach a separate page PART 4 – TYPE OF TRANSFER Please complete fully, more than one may apply. Transfer by Recorded Instrument Sale Gift Barter Nominal or No Consideration Part of 1031 or 1033 exchange Transfer is subject to a reserved life estate Transfer by Operation of Law Termination of joint tenancy by death Termination of life estate by death Court Decree Merger, consolidation, or other business entity reorganization PART 5 – EXCEPTIONS FROM PROVIDING SALES PRICE INFORMATION Please complete fully, more than one may apply Gift Transfer in contemplation of death without consideration Transfer between husband/wife or parent/child for nominal consideration Transfer of property of the estate of a decedent Transfer by government agency Correction, modifi cation, or supplement of previously recorded instrument, no additional consideration Termination of joint tenancy by death Termination of life estate by death Transfer pursuant to court decree Tax deed or sheriff’s deed Foreclosure (include trustee transfer under trust indenture and deed in lieu of foreclosure) Merger, consolidation or reorganization of business entity Timberland/Forestland exemption Land eligible for Agricultural Classifi cation (15-7-201, MCA) Transfer to a revocable living trust Other (Specify Type) PART 6 – SALE PRICE INFORMATION Please complete fully, more than one may apply Actual Sale Price $ Financing: __Cash __FHA __VA __Contract __Other Terms: __New loan OR __Assumption of existing loan Value of personal property included in sale $ Value of inventory included in sale $ Value of licenses included in sale $ Value of good will included in sale $ Was an SID payoff included in the sale price? ____Yes Did the buyer assume an SID? Yes Amount of SID paid or assumed: $ Was a mobile home included in the sale? Yes No PART 7 – WATER RIGHT DISCLOSURE This Disclosure is only applicable to the property identifi ed in PART 3 above A. Property is served by a public water supply, i.e., city, irrigation district, or water district provides water. B. Seller has no water rights on record with DNRC to transfer. C. Seller is transferring ALL water rights on record with DNRC to the Buyer. D. Seller is dividing or exempting (reserving) water rights. Seller must fi le Water Right Update form. Seller (Grantor) Signature Date PART 8 – PREPARER INFORMATION Preparer’s signature is required Name/Title print) Mailing Address City Zip Signature Daytime Phone Clerk and Recorder Use Only Recording Information: Document # Book __Warranty __Trust Deed __Quit Claim __Grant __Contract for Deed __Decree __Interest __Bargain & Sale Deed __Notice of Purchaser’s Interest __Statement of Acknowledgement __Termination of Joint Tenancy __Tax Deed __Benefi ciary Deed __Other Legal Description: Attachment Add/Sub Block Lot County City/Town Section Township Range SELLER (Grantor) Name Mailing Address (Permanent) City ST Zip Seller Principal Residence __Yes __No Main Geocode Assessor Code or Parcel # / / / / / / 000 00 00 000 000 00 000 00 00 000 00 000 00 000 000 00 Page 3 Department of Revenue Copy SSN - - SSN - - FEIN Daytime Phone SSN - - SSN - - FEIN Daytime Phone Transfer to Trustee, Custodian, or other Representative: Trust FEIN Minor SSN - List the last 4 digits of the SSN or FEIN Clear Form ---PAGE BREAK--- REALTY TRANSFER CERTIFICATE CONFIDENTIAL TAX DOCUMENT The information contained in this certifi cate is confi dential by Montana law. Unauthorized disclosure of this information is a criminal offense. GEOCODE(S) ASSESSMENT CODE: PART 1 – DATE OF TRANSFER (SALE) The Department of Revenue will change the name on ownership records used for the assessment and taxation of real property when this form is fully and accurately completed and signed. (Please read the attached instructions on page 1 for assistance in completing and fi ling this form). Montana law requires this form be completed and may impose up to a $500 penalty for failure to fi le a Realty Transfer Certifi cate (15-7-304, 305 and 310, MCA) PART 2 – PARTIES Please complete this section in full, if additional space is required, please attach a separate page BUYER (Grantee) Name Mailing Address (Permanent) City ST Zip Buyer Principal Residence __Yes __No Mailing Address For Tax Notice (If different) City ST Zip PART 3 – PROPERTY DESCRIPTION Please complete fully, if additional space is required, please attach a separate page PART 4 – TYPE OF TRANSFER Please complete fully, more than one may apply. Transfer by Recorded Instrument Sale Gift Barter Nominal or No Consideration Part of 1031 or 1033 exchange Transfer is subject to a reserved life estate Transfer by Operation of Law Termination of joint tenancy by death Termination of life estate by death Court Decree Merger, consolidation, or other business entity reorganization PART 5 – EXCEPTIONS FROM PROVIDING SALES PRICE INFORMATION Please complete fully, more than one may apply Gift Transfer in contemplation of death without consideration Transfer between husband/wife or parent/child for nominal consideration Transfer of property of the estate of a decedent Transfer by government agency Correction, modifi cation, or supplement of previously recorded instrument, no additional consideration Termination of joint tenancy by death Termination of life estate by death Transfer pursuant to court decree Tax deed or sheriff’s deed Foreclosure (include trustee transfer under trust indenture and deed in lieu of foreclosure) Merger, consolidation or reorganization of business entity Timberland/Forestland exemption Land eligible for Agricultural Classifi cation (15-7-201, MCA) Transfer to a revocable living trust Other (Specify Type) PART 6 – SALE PRICE INFORMATION Please complete fully, more than one may apply Actual Sale Price $ Financing: __Cash __FHA __VA __Contract __Other Terms: __New loan OR __Assumption of existing loan Value of personal property included in sale $ Value of inventory included in sale $ Value of licenses included in sale $ Value of good will included in sale $ Was an SID payoff included in the sale price? ____Yes Did the buyer assume an SID? Yes Amount of SID paid or assumed: $ Was a mobile home included in the sale? Yes No PART 7 – WATER RIGHT DISCLOSURE This Disclosure is only applicable to the property identifi ed in PART 3 above A. Property is served by a public water supply, i.e., city, irrigation district, or water district provides water. B. Seller has no water rights on record with DNRC to transfer. C. Seller is transferring ALL water rights on record with DNRC to the Buyer. D. Seller is dividing or exempting (reserving) water rights. Seller must fi le Water Right Update form. Seller (Grantor) Signature Date PART 8 – PREPARER INFORMATION Preparer’s signature is required Name/Title print) Mailing Address City Zip Signature Daytime Phone Clerk and Recorder Use Only Recording Information: Document # Book __Warranty __Trust Deed __Quit Claim __Grant __Contract for Deed __Decree __Interest __Bargain & Sale Deed __Notice of Purchaser’s Interest __Statement of Acknowledgement __Termination of Joint Tenancy __Tax Deed __Benefi ciary Deed __Other Legal Description: Attachment Add/Sub Block Lot County City/Town Section Township Range SELLER (Grantor) Name Mailing Address (Permanent) City ST Zip Seller Principal Residence __Yes __No Main Geocode Assessor Code or Parcel # / / / / / / Page 4 Buyer/Seller Copy ---PAGE BREAK--- Page 5 Montana Department of Natural Resources and Conservation 1424 9th Avenue, PO Box 201601 Helena, MT 59620-1601 444-6601; 444-0533 (fax) Certifi cation of Water Right Ownership Update The Realty Transfer Certifi cate submitted with the deed or other instrument indicates a water right is being divided or exempted (reserved) from the property. The Clerk and Recorder may not record the deed or instrument unless this certifi cation is completed and signed by the buyer, seller, and escrow agent (if applicable). See MCA 85-2-424(6). The required form (DNRC Ownership Update Divided Interest Form 641 or DNRC Ownership Update Exempt/ Reserved Form 642) and the required fee are held in escrow. I certify under penalty of false swearing that the statement appearing here is to the best of my knowledge true and correct. Seller Signature: Date: Buyer Signature: Date: Escrow Agent Signature: Date: There is no escrow. The required form (DNRC Ownership Update Divided Interest Form 641 or DNRC Ownership Update Exempt/Reserved Form 642) has been prepared and will be sent with the required fee to the Department of Natural Resources and Conservation within fi ve business days of recording. I certify under penalty of false swearing that the statement appearing here is to the best of my knowledge true and correct. Seller Signature: Date: Buyer Signature: Date: If you have questions contact your local water resources regional offi ce. BILLINGS [PHONE REDACTED] Big Horn, Carbon, Carter, Custer, Fallon, Powder River, Prairie, Rosebud, Stillwater, Sweet Grass, Treasure, and Yellowstone Counties BOZEMAN [PHONE REDACTED] Gallatin, Madison, and Park Counties GLASGOW [PHONE REDACTED] Daniels, Dawson, Garfi eld, McCone, Phillips, Richland, Roosevelt, Sheridan, Valley, and Wibaux Counties HAVRE [PHONE REDACTED] Blaine, Chouteau, Glacier, Hill, Liberty, Pondera, Teton, and Toole Counties HELENA [PHONE REDACTED] Beaverhead, Broadwater, Deer Lodge, Jefferson, Lewis and Clark, Powell, and Silver Bow Counties KALISPELL [PHONE REDACTED] Flathead, Lake, Lincoln, and Sanders Counties LEWISTOWN [PHONE REDACTED] Cascade, Fergus, Golden Valley, Judith Basin, Meagher, Musselshell, Petroleum, and Wheatland Counties MISSOULA [PHONE REDACTED] Granite, Mineral, Missoula, and Ravalli Counties