Real Estate Transfer – Declaration of Value Instructions, Page 2
Effective on or before 07/01/16 Page 2 57-011b (03/15/16)
IMPORTANT: If this transaction is exempt from the transfer tax, you may not be required to complete
this form. Exemption numbers 1, 6, 14, or 15 require a Declaration of Value form to be completed.
Exceptions Iowa Code 428A.2
1. (DOV required) Any executory contract for the
sale of land under which the vendee is entitled to
or does take possession thereof, or any
assignment or cancellation thereof.
2. Any instrument of mortgage, assignment,
extension, partial release, or satisfaction thereof.
3. Any will.
4. Any plat.
5. Any lease.
6. (DOV required for federal agency or
instrumentality) Any deed, instrument, or writing
in which the United States or any agency or
instrumentality thereof or the state of Iowa or any
agency, instrumentality, or governmental or
political subdivision thereof is the grantor,
assignor, transferor, or conveyor; and any deed,
instrument or writing in which any of such unit of
government is the grantee or assignee where
there is no consideration.
7. Deeds for cemetery lots.
8. Deeds which secure a debt or other obligation,
except those included in the sale of real property.
9. Deeds for the release of a security interest in
property excepting those pertaining to the sale of
real estate.
10. Deeds which, without additional consideration,
confirm, correct, modify or supplement a deed
previously recorded.
11. Deeds between husband and wife, or parent
and child, without actual consideration. A
cancellation of indebtedness alone which is
secured by the property being transferred and
which is not greater than the fair market value of
the property being transferred is not actual
consideration within the meaning of this
subsection.
12. Tax deeds.
13. Deeds of partition where the interest conveyed
is without consideration. However, if any of the
parties take shares greater in value than their
undivided interest a tax is due on the greater
values, computed at the rate set out in section
428A.1.
14. (DOV required)The making or delivering of
instruments of transfer resulting from a corporate
merger, consolidation, or reorganization or a
merger, consolidation, or reorganization of a limited
liability company under the laws of the United States
or any state thereof, where such instrument states
such fact on the face thereof.
15. (DOV required) Deeds between a family
corporation, partnership, limited partnership, limited
liability partnership, or limited liability company and its
stockholders, partners, or members for the purpose of
transferring real property in an incorporation or
corporate dissolution or the organization or dissolution
of a partnership, limited partnership, limited liability
partnership, or limited liability company under the
laws of this state, where the deeds are given for no
actual consideration other than for shares or for debt
securities of the corporation, partnership, limited
partnership, limited liability partnership, or limited
liability company. For purposes of this subsection, a
family corporation, partnership, limited partnership,
limited liability partnership, or limited liability company
is a corporation, partnership, limited partnership,
limited liability partnership, or limited liability company
where the majority of the voting stock of the
corporation, or of the ownership shares of the
partnership, limited partnership, limited liability
partnership, or limited liability company is held by and
the majority of the stockholders, partners, or members
are persons related to each other as spouse, parent,
grandparent, lineal ascendants of grandparents or
their spouses and other lineal descendants of the
grandparents or their spouses, or persons acting in a
fiduciary capacity for persons so related and where all
of its stockholders, partners, or members are natural
persons or persons acting in a fiduciary capacity for
the benefit of natural persons.
16. Deeds for the transfer of property or the transfer of
an interest in property when the deed is executed
between former spouses pursuant to a decree of
dissolution of marriage.
17. Deeds transferring easements.
18. Deeds giving back real property to lienholders in
lieu of forfeitures or foreclosures.
19. Deeds executed by public officials in the
performance of their official duties.
20. Deeds transferring distributions of assets to heirs
at law or devisees under a will.
21. Deeds in which the consideration is five hundred
dollars or less.
