Rensselaer Semi-Weekly Republican, Volume 20, Number 69, Rensselaer, Jasper County, 2 May 1899 — All Deeds Must Be Stamped. [ARTICLE]

All Deeds Must Be Stamped.

The U. S. revenue laws require that all deeds for land, where the lands exceed SIOO in value a stamp of 50 cents for each SSOO or less, and also 50 cents for each fraction of SSOO. Thus, a deed for $550 would require $1 in stamps. For SIO,OOO, ten dollars in stamps, etc. s Now there are a large class of deeds which represent little or no actual interest in 'the party making them. Such as quit claim deeds, or deeds where a husband conveys to a wife or a wife to a husband, through a thifd party, etc. The revenue commissioner has decided that all deeds of this, kind must be stamped for the actual value of the land they convey, regardless of what interest the conveyor had in the property. This decision dates back to July Ist, 1898, and all parties who have had such deeds recorded since that time must bring them back to the recorder and put on the proper amount of stamps, and have the recorder cancel them. This must be done before July Ist next, or a penalty will be< incurred. As most deeds of this character do not ex press on their face what the real value of the property is that they convey, the recorder has them stamped for the value they are assessed at for taxation.