Form RT-1 at a glance
What it is: The Real Estate Sales Validation Form, Form RT-1, is a document that must be filed in accordance with Code of Alabama 1975, Section 40-22-1.
Who signs: Circle one: Grantor, Grantee, Owner or Agent.
A filled-in Form RT-1 example: a grantor files the form for a house sale
How to fill out Form RT-1, box by box
Grantor's and grantee's names and mailing addresses
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
Property address: the physical address of the property being conveyed, if available.
Date of Sale and Total Purchase Price, Actual Value or Assessor's Market Value
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.
Documentary evidence (check one)
The purchase price or actual value claimed on this form can be verified in the following documentary evidence (check one): Bill of Sale, Appraisal, Sales Contract, Other or Closing Statement. Recordation of documentary evidence is not required.
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).
Common questions about Form RT-1
What am I certifying when I sign?
Attest, to the best of your knowledge and belief, that the information contained in this document is true and accurate. 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).
When is this form not the right one?
If the conveyance document presented for recordation contains all of the required information referenced on this form, the filing of this form is not required.
Sources
[1] Form RT-1, Real Estate Sales Validation Form, Alabama Department of Revenue (the Official source link on this page).