HomeMy WebLinkAboutAgenda - 05-08-2002 - 8b r
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: May 8, 2002
Action Agenda
Item No.
SUBJECT: Refund of Real Estate Excise Stamps
! DEPARTMENT: Registerof Oeeds PUBLIC HEARING: (Y/N) No
ATTACHMENT(Si INFORMATION CONTACT:
Joyce Pearson, ext. 2676
4/5/02 Letter from Marcus Hudson
w/Attachments TELEPHONE NUMBERS
Transaction Receipt Hillsborough 7324181
Register of Deeds Certification Chapel Hill 9684501
Durham 888-7331
Mebane 336-2274031
PURPOSE: To consider approving a request for refund of real estate excise stamps paid
pursuant to the sale of real property.
BACKGROUND: When real property transactions are dosed in North Carolina, the seller is
responsible for paying excise stamps in the amount of$2.00 per$1,000 of the sale price.
Occasionally, enure are made In calculating the amount of excise stamps due. In such cases,
Me amount is recalculated, the correct amount is paid to Me Register of Deeds, and the seller
requests a refund of the incorrect amount Mat was earlier paid. The procedure for requesting
and receiving such a refund Is laid out in NCGS 105-228.37, The County Board of
Commissioners is statutorily designated as the approving authority for excise stamp refunds.
Mr. Marcus Hudson, with Bayliss, Hudson &Mem , Attorneys at Law, has requested that the
County reimburse his firm in the amount of$672.00 for real estate excise stamps incorrectly
paid in association with the sale of Lot 3A Pickard Oaks, as detailed in the attached letter of
explanation. Pending approval of the$672.00 refund, Bayliss, Hudson & Memft will then re-
mount the deed at a correct excise stamp amount of$449,00.
FINANCIAL IMPACT: Based on the original payment of$672.00, Me re-recorded dead seat
$440.00, and the proposed reimbursement of$672.00,Me net decrease in revenues to the
County would be$223.00.
RECOMMENDATION(S): The Manager recommends that the Board approve Me requested
refund of$672.00.
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BAra.sw8. 11"SON do MT.RRITT
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Onal Comity Board of Commwionaa
P.O.Box 8181
Hillsborough,NC 29298
Attention.Baerly Myme
Dear Sin.
We me warrant to"quest afrlAmjoL f Reveal Stamens in z real estate
most aedon we clean on FLbel6,2002,me day we recorded net rclevmn deed mid paid ma
tttoneous amount irbax. MaW quz Is the purchaser and Capkov Nurtures,Ne,is me calla in
the rele.mtinatrument Thisregmeslb madepinsvmtto NCGS 4105228.3].
The mor occurred because oft,temporary,mistake in ovr eompulefaoftw cprommor
that for closingevica ntcapsitehenalnord t,Durnmmpul4 eulomntieelly charged too
Doedwthe rdrod Rd Re ue Sl ps W=lpvdin s¢tlon. cf$672orwmtwWCtifille ire
Deed wea icarded and Revmua Stamps ware paid inure t,mawte£86]2,00. Acopy ofthe face
of the Geed is attaGmd.
We have also enelosed a copy al Sales Contract and HUD-1 Settlement Statement
showing dim the purchase price was 8224,400.00 in the relevmd hmuectiva(Maud C4ua).
Revenue Stamps At$2.00/51,000 al ld have been 5459
According to C.S. 105-228.37 mat cmaddirhes the procedure for requesting a mfund of an
excise tax that was improperly pad,it u our understanding that then are five steps:
t) Paym suhmits a labia/to me'COmnry Commiasioams requesting a remnJ. Please
regard this as such a letter.
2)The Hoard ofCounry Commissiotwrs revlowa me besmear within 90 days and
communicates its decision to the payer.
3) Payer submits me decision to the Registertn to time of mcotding a coneodon
immurement(me Original Deed with the em2e[ed RM Wile Stamps atngmt and a gatemen
indravilg the correction signed by the Atmmcy). The RCginer of Diode Office indicated m Is
dut we would Imve to pay the full mrtcc[amount of Revenue Stamps at the lime or se-eecoolmll
(8449.00)udthat a full refund of 8672.00 would then made to ue.
4) The Register informs Ne county fioanm ot5ceraM Ne RevenueDWaunmt ofNe
re-reeorem&.
5) The refund is acnt loth:payer PIMA make the cbeckpayabla m Bayliss.Hudson&
Merrill Trust Account.
ThnN[you fer co�idedng oortegvest. We look 2la&d 1011eming5em you Tegarding
thismfuM.
Sincerely y4ws,
BAYUgS
MMNN&&ME Tr
Z H— a
MFOacw Marcus Hudson
Enclosures
0- - 2 noM;SnVL ee, HUDSON
�r
etitii2503 PA4E 243 4
TAX MAP: 7.27.F 40 PIN: 9789-ga-0M.0
Prepared by.Wayne R. Letter. Beemer Savery, Hadler&Jonas, P.A. (Without Title
Search)
Ratum to Marcus Hudson, Esq. If
P-O-Sex 399 RIS 'I
Chapel Hi11,11C 27514
NORTH CAROLINA
GENERAL WARRANTY DEED
ORANGE COUNTY
jTHIS GENERAL WARRANTY DEED, made and entered Into this the 6th tlay of
February,201 by and between CAPNOV VENTURES, INC., a North Carolina
corporation, party cf the first part, hereinafter Granter, and MUD A. CRUZ and
ROBERT L. CRUZ, party or the second pad, hereinafter Grantee,whose address Is:
109 Bluefield Road, Chapel Hill, NC 27517.
°o WITNESSETH
s 6 ay Grantor.for and in consideration of fire sum of Ton ($10.00) Ddlms and other
good and suHiciaM consideration to Grantor m hand paid by Grantee,the receipt of
A.
which Is hereby acknowledged, has granted, bargained, sold and conveyed and by
9 losia, Mom presents does grand, bargain,sell and convey onto Grantee,their halm and
°-
assigns,that certain lot or parcel of land localatl in Chapel HIII Township. Orange
County, North Carolina, and Triangle Towns hip, Durhem County and more particularly
described as.
BEING all of LOT BA,PICKARD OAKS,as shown on a survey and map recorded in
Plat Boll 80, Page 187, Orange County Registry,to which reference Is made for a
more particular deser abon W same.
This conveyance Is subject to all matters contained on the public record.
TO HAVE AND TO HOLD the aforesaid lot or tract of land and all prbilegas and
AM 7MAINAA appurtenances diamond belonging,or in any was appertaining. unto said Gmmee,-
their and assigns, in fee simple forever.
Grantor, for itself. Its successors and assigns, covenants with Grantee, their
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ORANGE COUNTY LAND RECORDS SYSTEM 22 9FR 2002
RECISTE% OF DEEDS REVENUE COLLECTION ...
** NON V:TAL SYATIST ICE IHQU-RY ....
RECL=PT NO: R 12956 02 EMS: EAYISSS HUDSON 6 MEFRT-RAGS DATE: 06 FEB 2DD2
NO PARTY NO PAGES COST CODE AMOUNT
1 CAPKOV VENTURRS/M A XRU2 ET AL 3 DP 17.00
2 SAME 0 IS 672.00
CHECK RECEIVED: 689.00 CHECK NO: 1615
PAID IN CASH: D.00
TOTAL 'AYMENT: 689.00 TOTAL CHARGES: 609.00
VOID PAPERS: 0.00
COLLECTED EY�DES TRANSACTION DATE: 06 FEE 2002
V
10
Joyce IL Pearson
Orange County Rcgista of floods
200 5-Cameron Street
Hillsborough,NC 29298
(91 9d 245-2676
April 22,2002
To: The Orange County Bocci ofConrmissionem
This is to vonl'y that on February 6,2002,to office of Bayless,Hudson&
Merritt,Anomeys at Law,filed with the Orange County Register of Deeds Office a deed
from Capkov Ventures,Inc. W Maud A.Cruz and Robert L.Cruz,properly description
Lot3APickazd Oaks. Tbc Orange County Register of Deeds Office collected excise
stamps in the amount of$692.00 and the amount should have been,per Mr.Marcus
Hudson's letter,$449.00. Mr.Hudson is rcquesfing a refund of$223.00.
Joyce 11 Pearson,
Orange County Register of Deeds