Alabama Form RT-1 PDF Details

In the state of Alabama, the Real Estate Sales Validation Form, better known as the Alabama RT-1 form, plays a crucial role in the conveyance of property interests. This mandatory document, governed by the Code of Alabama 1975, Section 40-22-1, is designed to accurately record and validate the details of real estate transactions. It requires comprehensive information including the names and mailing addresses of both the grantor and grantee, the address of the property being transferred, the date of sale, and the total purchase price or actual value of the property. Furthermore, the form allows for the substantiation of the stated value through various forms of documentary evidence such as bills of sale, appraisals, or sales contracts, though the recordation of this evidence is not obligatory unless the conveyance document lacks the necessary information. By meticulously setting out these requirements, the form not only helps in ensuring transparency and accountability in property transactions but also aids in the proper assessment and taxation of real estate, reinforcing its significance to both the state and its citizens. Additionally, it carries a legal obligation for the information provided to be truthful and accurate, under penalty of law for any false statements, emphasizing the seriousness with which Alabama treats the integrity of property transfer records.

QuestionAnswer
Form Name Alabama Form RT-1
Form Length 1 pages
Fillable? No
Fillable fields 0
Avg. time to fill out 15 sec
Other names alabama form real, real estate sales validation form, alabama real estate sales validation form, real estate validation form

Form Preview Example

REAL ESTATE SALES VALIDATION FORM

THIS DOCUMENT MUST BE FILED IN ACCORDANCE WITH CODE OF ALABAMA 1975, SECTION 40-22-1

Grantor's Name

 

Grantee's Name

Mailing Address

 

Mailing Address

 

 

 

 

 

 

Property Address

 

Date of Sale

 

 

 

Total Purchase Price $

 

 

or

 

 

 

Actual Value

$

 

 

or

 

 

 

Assessor's Market Value $

 

 

 

 

The purchase price or actual value claimed on this form can be verified in the following documentary

evidence: (check one)

(Recordation of documentary evidence is not required)

 

Bill of Sale

 

 

Appraisal

 

Sales Contract

 

 

Other

 

Closing Statement

 

 

 

If the conveyance document presented for recordation contains all of the required information referenced above, the filing of this form is not required.

INSTRUCTIONS

Grantor's name and mailing address - provide the name of the person or persons conveying interest to property and their current mailing address.

Grantee's name and mailing address - provide the name of the person or persons to whom interest to property is being conveyed.

Property address - the physical address of the property being conveyed, if available.

Date of Sale - the date on which interest to the property was conveyed.

Total purchase price - the total amount paid for the purchase of the property, both real and personal, being conveyed by the instrument offered for record.

Actual value - if the property is not being sold, the true value of the property, both real and personal, being conveyed by the instrument offered for record. This may be evidenced by an appraisal conducted by a licensed appraiser or the assessor's current market value.

If no proof is provided and the value must be determined, the current estimate of fair market value, excluding current use valuation, of the property as determined by the local official charged with the responsibility of valuing property for property tax purposes will be used and the taxpayer will be penalized pursuant to Code of Alabama 1975 § 40-22-1 (h).

I attest, to the best of my knowledge and belief that the information contained in this document is true and accurate. I further understand that any false statements claimed on this form may result in the imposition of the penalty indicated in Code of Alabama 1975 § 40-22-1 (h).

DatePrint

Unattested

Sign

 

(verified by)

 

(Grantor/Grantee/Owner/Agent) circle one

FORM RT-1

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