The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-01-19

| you. while the stimulated scalp gains
the health which insures hair growth.
edged before a notary public and de-
1ivered subsequently to that date, is
taxable.
Section 13 OF the said act pro-
vldes that it shall not be lawful to
record or register any instrument, pa
per or document required by law to be
stamped unless stamp or stamps Of
the proper amount shall have been at
fixed and cancelled in the manner
prescribed by law.
Where a deed is presented to a re-
cording oflcer and 1t appears prob
able that an insufficient amount of in
ternal revenue stamps are attached
thereto and he is not satisfied with
the explanation furnished by the par
ty Offering TIE same for record. he
should notify the collector Of revenue.
1t is not expected that the recording
officer will institute an investigation
to see whether there has been any
violation Of the law, nor is it thought
that he should exact an affidavit
showing the true consideration.
"A contract for the sale of real es-
tate which provides for the issuance
|of a deed at some future date upon
the fulfllment Of certain conditions IS
mot subject to tax, if executed by the
owner Of the land. If executed by a
broker 1t is subject to a tax Of 10
cents.
Partition Deeds Exempt.
"A partition deed which is operat-
i've in defining boundary lines or in
showing by location each tenant in
tax.
"A quit claim deed given for no
consideration, or merely the nominal
consideration OF 81 for the purpose OF
correcting flaw in title, is not subject
to tax. No tax is imposed upon an
option for the purchase of real prop
erty.
''Oil leases, leases Of mining prop
erty. long term mining leases, etc,
which, in themselves, convey no title
to, or interest in, real property are
exempt.
Deeds in escrow do not become
subject to the said tax until the final
delivery is made. Therefore, If de-
livery OF such deed is made subse-
quent to December 1, 1914, 1t becomes
subject to the tax imposed upon con-
veyances.
Deeds of release and deeds OF
trust are exempt from tax under the
provisions OF the said act
Deeds issued by masters in chan
Gerry, sheriffs. ETC., to cover transfer
Of property sold under foreclosure
or execution are subject to tax, the
cost of which may be added to the
court costs.
Deeds to burial sites which do not |
convey title to land, but only a right |
TO sepulchre, to erect monuments. etc, |
are exempt from tax.
Others Not Taxable.
"A deed Issued to cover gift OF
from husband to wife, or ,
rom parent to child, or from an in
iividual to municipality or other
1olitical subdivision, wherein the con-
;ideration named Ia natural love and
affection and 81 desire to promote
,u Jlic welfare and ST. or 81 and 9TH
n valuable considerations, is not
ayable.
In case OF an exchange OF two
properties, the deeds transferring title
o each are subject to tax, which
hould. In each case. be computed on
he basis of the actual value of the In
crest or property conveyed the
of any lien or incumbrance be-
ng deducted.
"A deed executed by debtor COW
ring an assignment of property to a
rustee to be held for the benefit of a
reditor is not subject to tax. When
owever, the trustee sells or conveys
UGH property, either to the creditor
r any other person, the deeds execut-
d by him are taxable.
"a deed transferring title to prop
rty to a building and loan associa-
lon for the purpose of securing a-loan /
n the property so conveyed. which ]
roperty is Immediately reconveyed to 4.
S owner, is not subject to tax: the .
eed of reconveyance being likewise /
xempt. {
"A deed given by husband and
life to straw man who immediate ,
: executes deed reconveying the ,
to the wife is not subject to {
TX if given for no valuable considera- {
on, or merely the nominal considera i
on of 81, and likewise the deed of /,
SC 4 4