The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-03-11

SENA II BILL NO. OHu-
AN ACT relating to registration fees for.
and taxation of, real estate mortgages.
Be it enacted by the Legislature of the
Section 1. The words real property
and real estate" as used in this act, in
addition to the definition thereof con-
tanned in the General Statutes of 1909, shall
include all property, conveyance or mort
gage of which is entitled to record as real
property interest therein under the laws
of this state. The words, mortgage OF
real property shall include every instru-
ment by which lien is created or imposed
upon, or which affects the title to, real
property, notwithstanding that the debts
secured thereby may also be secured by
lien upon or interest in personal property:
An eXecutory contract for the sale of real
estate, or a bond for u deed in which time
is not made the essence of the contract,
titled to the possession of such real estate,
or by which the grantor holds the legal
title security for the unpaid purchase
money, shall, for the purpose of this act,
be treated as mortgage of real property
to secure the balance of the unpaid pur-
chase price.
Sec. 2 Before any mortgage of real
property shall be received and filed for
record and after the first day of July,
1915, there shall be paid to the county
treasurer of the county in which such
property, or Il part thereof is situated, a
registration fee for each one hundred dol
lars, and major fraction thereof, of the
principal debt or obligation which is, or
under any contingency may be, secured by
such mortgage, the sum of fifteen cents
per annum for the full term of the loan;
u,
construed as requiring registration fee
of more than $1,000 on any one mortgage
of real property and such fee upon any
such mortgage shall be paid at the time
such instrument is presented for record
and shall be paid in advance of it being
recorded: and provided further that mort
cages given to building and loan associa
lions security for non-negotiable loans
shall be exempt from the payment of the
holder of every such mortgage falling due
after July L, 1915, which is not paid at
maturity, shall within six months imme-
diately after the maturity of such mort
gage, pay to the county treasurer of the
county where it is recorded a renewal reg
istration fee, on the amount remaining un-
paid for the time renewed or extended,
if renewed or extended, and if not
year, equal to the fee required for
a mortgage, for the same amount and
time, executed on the date of such ma
turity: and in case such mortgage is not
renewed or extended and remains unpaid,
then at the expiration of the year
for the next year shall likewise be
paid until such mortgage is paid in full;
good faith for the foreclosure of any such
mortgage, within six months after its ma
turity and prosecuted without unneces-
sary delay to final Judgment, no such re
newal registration fee shall be required.
All renewal fees shall be apportioned and
distributed in the same manner as the
original registration fees No fee shall be
required in case mortgage is given sole
" for the purpose of correcting or perfect
ing a previously recorded mortgage. of
providing additional security for the same
indebtedness. where such registration fee
has been paid on the original mortgage.
Sec. ,. The registration fees herein pro-
vided shall be in addition to the fees fixed
by law for filing and recording such in
Upon payment of the registra
ton fee to the county treasurer it shall be
his duty to endorse upon the instrument
presented a receipt for the payment of
such fee, which shall be substantially in
the following terms:
Registration fee amounting S----
ia of