The San Francisco call., 1898-07-09
REAL VALUE
 MUST APPEAR Deeds, Etc., Not Valid
 Unless True. NOT WORTH THE RECORDING STAMPS MUST BE AFFIXED FOR
 THE FULL TAX. Consideration Paid and Received for the Property Must Be Truth
 fully Stated in the
 Papers.

Deeds, conveyances and other docu- ments relating to the transfer of real estate are not worth the paper they are written on unless the stamps required by the war revenue act are affixed. Such is the opinion of competent lawyers who have looked into the matter, and they are advising their clients not to neglect af fixing the stamps and to state in such pa pers the real consideration involved in the transaction.
 The only thing like an official opinion that has yet been given in the matter is an informal one by United States Attor- ney Henry s. Foote. It was in reply to a query by .. P. Owen, Recorder of Santa Clara County. MT. Owen wired to Judge Foote the following: Consideration in a deed s10; known value of property s50O0. Parties refuse to pay tax on value, claim ing the law says considerations. What shall 1 do-refuse the document?'
 Judge Foote replied by letter to the ef- feet that he was not authorized in his official capacity to give opinions to other than Federal officials, but he would say amount of the stamp to be affixed on the deed must be the real consideration or value of the property conveyed, on the basis of the law under the. head of con- veyance. AS matter of course, per sons cannot convey property by putting in nominal consideration instead of the
 
 Judge. Il cannot be your adviser as to refusing the document or otherwise
 Internal Revenue Collector Lynch said: Under the war revenue act man has no more right to underState the value Of the property in deed than he would have to give wrong statement as to proof spirits. In all cases of violations Of rev enue the United States interprets the law in it's own favor. In other words, 1t gives itself the benefit of the doubt
 A. M. Speck, real estate dealer, said that not much complaint had been made by clients on account of the stamp tax on deeds, rent receipts and other documents property furnish the stamps. except in the case of leases, the stamps for which are furnished half and half by the parties. With regard to the custom of placing fictitious consideration in deeds. MT. Speck said that he had been advised by his attorney that such proceeding rem dered the deeds of no more account than litigant could prove that the deed the validity of which he might be contesting was stamped at less than the tax on the actual consideration ne could nave IL thrown out of court.
 Section of the act provides the penal ties for a violation of the law, and IS as follows:
 sign or issue, or cause to be made, signed or issued any instrument document or paper of any kind or description whatsoever. without the same being duly stamped for denoting the tax hereby imposed thereon, or without having there- upon an adhesive stamp to denote said tax, such person or persons shall be deemed guilty of misdemeanor, and upon conviction thereot shall cay a fine of not more than Sl00. at the discretion of the court, and such instrument, document paper, as aforesaid, snail not pe competent evidence in any court.
 Section 15 makes 1t unlawful to record or register any document subject to the tax without having been properly stamped
 In schedule A 1t Is provided that
 Conveyance deed, instrument or writing, whereby any lands, tenements or other realty sold shall be granted. assigned, transferred or otherwise conveyed to or vested 1T the pur- chaser or purchasers or any other person or persons by his her their direction, when the consideration of value exceeds Sl0O ana does not exceed $500 50 cents, and for each additional $500 or fractional part thereof in ex- cess of $500 50 cents.
 The Recorder said that he could find nothing in the law to apply to him as Recorder. The law deals with the par, ties between whom the deal is made, ana says the deed shall be rejected in court If offered in evidence in any proceedings.
 So far as the Recorder is concerned ne will record any and all deeds presented to him. The law makes no mention ot his rejection of any document presented to him for record.
 There is no penalty attached to him for making a record of any deed Of con- yeyance of real estate without stamp heinz on the document.