Conveyance Form DTE 100 Instructions - …

1 Conveyance form DTE 100 Instructions 1. Grantor's name Grantor: Seller Grantee: Buyer Phone 2. Grantee's name It is important to provide telephone numbers. This is Phone essential if further information is required. 3. Address of property The physical street address of the property. Mailing address of the person(s) or entity receiving the tax 4. Tax billing address bill. 5. Are there buildings on the land? Yes No If yes, check type: 1, 2 or 3 family dwelling Circle the number that applies Condominium Apartment: No of units ___. Manufactured (mobile) home Farm Buildings Other _____. If land is vacant, what is intended Examples: hunting, agriculture, commercial development, use? recreational (trail riding), home site. 6. Conditions of sale (check all that The answer to this question determines if a sale is valid. apply) All valid sales contribute to the establishment of property values in Muskingum County. Grantor is relative Buyer and Seller are related Party may only have a 1/3 interest in the property.

2 To Part interest transfer ensure the property is transferred correctly, note if there is only a part interest. (Interest =Ownership). Land Contract Any sale involving a land contract is an invalid sale. Trade Property acquired by trade is invalid for value purposes. If a life estate is involved in a transfer, this note will ensure Life estate the property is transferred correctly. Leased fee Landowner's right to land that is leased. Leasehold Land or building leased for a defined period of time. Mineral rights reserved Seller retains the mineral rights to the property. Conveyance must be paid on market value if the transfer is Gift NOT between husband and wife, or parent and child, or the spouse of either. Grantor is mortgagee Seller is a lending institution. Other Buyer is a lending institution Foreclosure If the sale is between a willing buyer and willing seller, write in arms length, as this will indicate the question was not overlooked.

3 1. Conveyance form DTE 100 Instructions 7. a) New mortgage amount (if any). + Amount being financed b) Balance assumed (if any) + Amount of the balance being assumed by an existing mortgage c) Cash (if any). + Amount being paid in cash d) Total consideration (add lines 7a, 7b, 7c) = Total amount being paid for property e) Portion, if any, of total - Any amount being paid for items other than real consideration paid for items other property. Ex: Liquor License , Furniture, Fixtures than real property f) Consideration for real property on = Total Consideration which fee is to be paid (7d minus 7e). g) Name of mortgagee _____ Name of lending institution Mark the type of mortgage h) Type of mortgage Conventional Other i) If gift, in whole or part, estimated Conveyance fee must be paid on market value if the sale is market value of real property NOT between husband and wife, or parent and child, or the spouse of either.

4 If this question is not completed correctly, it could result in a homeowner's homestead reduction being removed. 8. Has the grantor indicated that this The homestead reduction lowers the market value by property is entitled to receive the $25,000 for tax purposes. senior citizen, disabled person or New for tax year 2014, there is now a disabled veteran's surviving spouse homestead homestead that lowers the market value by $50,000 for exemption for the preceding or tax purposes. current tax year? Yes No If yes, There are now income limitations for the homestead complete form DTE 101. reduction. However, if the homeowner received homestead in tax year 2013, they can be grandfathered into homestead without the income limitation. 2. Conveyance form DTE 100 Instructions If this question is not completed correctly, it could result in a landowner being removed from CAUV. 9. Has the grantor indicated that this If a property is removed from CAUV, there is a property qualified for current recoupment charged to the following year's taxes equal to agriculture use valuation for the preceding or current tax year?

5 Yes the previous three years of tax savings. No If yes, complete for DTE 102. If a property is removed from CAUV due to a paperwork error, the owner must file a complaint with the Board Of Revision to get CAUV reinstated. 10. Application for owner-occupancy ( on qualified levies) reduction. (Notice: Failure to complete this application prohibits the owner from This form serves as the application for the owner- receiving this reduction until another occupancy reduction. If no is marked, the reduction is proper and timely application is filed.) removed and the owner will have to apply between the Will this property be grantee's first Monday in January and the first Monday in June. principal residence by Jan. 1 of next year? Yes No If yes, is the property a multi-unit dwelling? 3. Conveyance form DTE 100 Instructions Reminders Cut off Dates for Splits, Transfers, and CAUV Properties BUYER will receive tax bill the Beginning September 1, 2016, there will no longer be a cut off.

6 Following year of the sale. All tax bills will go to the buyer. CAUV considerations for the loan closing: The new owner needs to determine if he/she is going to use the land for Commercial Agricultural Use only. If the new owner does not file a CAUV application, the tax savings will be recouped for the last 3 years against the new owner. If the seller agrees to pay the recoupment cost, the closing statement should reflect that. The buyer will be responsible for the tax bill if the seller does not follow through. If the new owner files a CAUV application and is approved by the Auditor's Office, recoupment does not factor into the equation. According to the Ohio Revised Code, the recoupment of savings always follows the land, not the owner. Effective January 1, 2015 we will no longer accept Conveyance forms that are incomplete or illegible. Thank you in advance for your diligence in this matter! 4.