West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-22 - Property Transfer Tax
Section 110-22-2 - Definitions

Universal Citation: 110 WV Code of State Rules 110-22-2

Current through Register Vol. XLI, No. 38, September 20, 2024

2.1. "Person" includes firms, associations and corporations.

2.2. "Commissioner" means the State Tax Commissioner.

2.3. "Office of the Chief Inspector" means the State Auditor's Chief Inspection Division.

2.4. "Transaction" means the delivering, accepting or presenting for recording of a document.

2.5. "Value" means in the case of any document not a gift, the amount of the full consideration paid or to be paid, including any liens to be assumed; in the case of a gift or any other document without consideration, the actual monetary value of the property conveyed or transferred.

2.6. "Document" means any deed or any other written instrument which transfers real property, or any interest in real property, within this State from one person to another.

2.6.1. "Document" does not mean or include the following, which are, therefore, not subject to the property transfer tax, to wit:
2.6.1.1. A Will.

2.6.1.2. A deed or other written instrument which transfers real property, or any interest therein, having a value of one hundred dollars ($100) or less. Thus, a deed transferring real property values at one hundred dollars and one cent ($100.01) is taxable, while a deed transferring real property valued at one hundred dollars ($100) or less is not taxable.

2.6.1.3. A testamentary trust. -- This is a transfer of property to a trustee for the benefit of a third party and which becomes effective upon death of the person making the transfer.

2.6.1.4. Intervivos trust. -- This is a transfer of property to a trustee for the benefit of a third party which is effective during the life of the person making the transfer.

2.6.1.5. A deed of partition. -- A division of land between co-owners.

2.6.1.6. A deed made pursuant to mergers of corporations.

2.6.1.7. A deed made by a subsidiary corporation to its parent corporation for no consideration other than the cancellation or surrender of subsidiary's stock. Such a transaction would be taxable if any consideration involved would exceed one hundred dollars ($100).

2.6.1.8. A lease.

2.6.1.9. Any transfer between husband and wife.

2.6.1.10. Any transfer between parent and child and his or her spouse, without consideration, or between child and parent. A parent can give his child and his or her spouse real property and the transfer is not taxable, but if he sells it to the child and his or her spouse, the transfer is taxable if the selling price exceeds one hundred dollars ($100).

2.6.1.11. A transfer between any person and a "straw" party for any purpose when the transfer is without consideration.

2.6.1.12. Gifts to, or transfers from or between voluntary charitable or educational associations or trustees thereof and like nonprofit corporations having the same, or similar, purposes. Transfers with consideration to such associations by a third party are subject to the tax.

2.6.1.13. A quit claim or corrective deed without consideration. Either of this type deed with a consideration of over one hundred dollars ($100) is subject to the tax.

2.6.1.14. A transfer to or from the United States, the State of West Virginia, or to or from any of their instrumentalities, agencies or political subdivision by gift, dedication deed or condemnation proceeding.

2.6.1.15. Deeds of Trust or mortgage given as security for a debt.

2.6. A figurative exemption exists in the case of a deed conveying real estate situated in more than one county, in that stamps representing the total value or consideration may be attached to only one of the deeds and the other documents are, therefore, not subject to the tax. A declaration stating such a situation must be attached to all documents concerned.

2.7. The law imposes the primary tax liability upon the grantor. In the event the grantee accepts a document without the tax having been paid or the stamps affixed, such tax shall be paid by the grantee. Likewise, the grantee shall pay the tax on any transfer of real property from a trustee or a county clerk transferring real property sold for taxes.

2.8. A transfer of real estate when a life estate is retained is subject to the property transfer tax on the present day market value of said property less the computed value of the estate of the life tenant as set forth in the Statutory formula of life tenancy. (West Virginia Code article 2, chapter forty-three.)

Suggested Declaration:

I hereby declare: the true and actual value of the property transferred by the document to which this declaration is appended, is to the best of my knowledge and belief $_______; said true and actual value having been determined by subtracting the computed value of the estate of the life tenant from the present day market value of said property.

Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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