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Committee recommends do-not-pass on bill that would require quitclaim deeds to state full consideration
Summary
The House Judiciary Committee voted 9-5 to recommend do not pass on House Bill 1271, which would have required quitclaim deeds to include a statement of full consideration except for certain enumerated exceptions; opponents argued the change would create burdens and unintended consequences for non-arms-length transfers.
BISMARCK, N.D. ' The House Judiciary Committee recommended do not pass (9-5) on House Bill 1271 after hearing technical and professional opposition from title and bar associations.
Representative Jim Greenheck introduced HB 1271 as a local taxing-authority request. The sponsor described the proposal as a means to improve transparency in property records for assessing fair market value: the bill would require a statement of full consideration on a quitclaim deed except when the transfer fits…
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