cabarrus county board of commissioners regular meeting november ...

October 17, 2011 (Regular Meeting)Pagein this manner are to have the type instrument changed to the type offinancing from the list below if the type financing can not be determinedenter QF to let us know that a qualification form is on file. The forms arethen to be filed in the sales books by year and in PIN number order. Havingthe type financing in the instrument will allow us to know that there is aqualification form on file for review as needed. All qualifications by deedstamps are to be made by an appraiser and the type instrument should bechanged to “DS” so everyone will know that it has not been properlyqualified.TYPE OF FINANCINGAR - Adjustable RateCA - CashCV - ConventionalDS - Deed StampsFH - FHA (Federal Housing Administration)FM - Farmers Home AssociationLA - Loan AssumptionOF - Owner FinancingOT - OtherQF - Qualification FormVA - VA (Veterans Administration)TYPE INSTRUMENTBA - Boundary Agreement GW - General Warranty DeedCO - Corrective Deed/Deed of Correction NW - Non-WarrantyCD - Consolidation Deed QC - Quit ClaimCM - Commissioner’s Deed RW - Right of Way DeedCU - Condominium Unit SH - Sheriff’s f’s DeedCV - Special Proceeding/Civil ST - Substitute te Trustee DeedED - Executors Deed SV - SurveyEF - Will Book – Estate File SW - Special Warranty DeedGU - Guardian Deed TR - Trustee’s DeedFor a sale is to be disqualified, use the disqualification codes as follows:CODE REASONS FOR REJECTION:DEED EDIT SHEETA. The transaction includes the conveyanceof two (2) or more parcels.B. Sales for which theimprovementssold are not included in the taxassessment or the assessment includedimprovements built after the sale.C. Deed shows $6.00* or lessrevenue stamps. *Transaction is for $3,000or less.D. The date the deedwas made, entered or notarized is outside the dates ofthe study period. (The study period runs from January 1 to December 31.)E. The transaction isbetween relatives or related businesses.DRinDisDRAFTF. The grantor is only conveying an undivided or fractional interest to thegrantee.G. The deed reserves until the grantor, a life estate or some otherinterest.H. The deed reserves unto the grantor the possession of, or lease of, theproperty for specified period following the sale.I. One or both of the parties involved in the transaction is governmental, apublic utility, lending institution, or a relocation firm.J. The deed conveys a cemetery lot or other tax-exempt property.K. One or both of the parties involved in the transaction is a church,school, lodge, or some other educational organization.M. The deed indicates that the property conveyed is situated in more thanone county.N. The transaction is for minerals, timber, etc. or the rights to mine orcut same.A-1Page 43