§ 9:3197 — Applicability; exemptions

§3197. Applicability; exemptions
A. The provisions of this Chapter shall apply to the transfer of any interest in
residential real property, whether by sale, exchange, bond for deed, lease with option to
purchase, or any other option to purchase, including transactions in which the assistance of
a real estate licensee is utilized and those in which such assistance is not utilized.
B. The provisions of this Chapter shall not apply to any of the following:
(1) Transfers ordered by a court, including but not limited to a transfer ordered by
a court in the administration of an estate, a transfer pursuant to a writ of execution, a transfer
by any foreclosure sale, a transfer by a trustee in bankruptcy, a transfer by eminent domain,
and any transfer resulting from a decree of specific performance.
(2) Transfers to a mortgagee by a mortgagor or successor in interest who is in
default.
(3) Transfers by a mortgagee who has acquired the residential real property at a sale
conducted pursuant to a power of sale under a mortgage or a sale pursuant to decree of
foreclosure, or who has acquired the residential property by a deed in lieu of foreclosure.
(4) Transfers by a fiduciary in the course of administration of a decedent's estate,
guardianship, conservatorship, or trust.
(5) Transfers of newly constructed residential real property, which has never been
occupied.
(6) Transfers from one or more co-owners solely to one or more of the remaining co-owners.
(7) Transfers from the succession executor or administrator pursuant to testate or
intestate succession.
(8) Transfers of residential real property that will be converted by the purchaser into
a use other than residential use.
(9) Transfers of residential real property to a spouse or relative in the line of
consanguinity.
(10) Transfers between spouses resulting from a judgment of divorce or a judgment
of separate maintenance or from a property settlement agreement incidental to such a
judgment.
(11) Transfers or exchanges to or from any governmental entity.
(12) Transfers from an entity that has acquired title or assignment of a real estate
contract to a piece of residential real property to assist the prior owner in relocating, as long
as the entity makes available to the purchaser a copy of the property disclosure statement, any
inspection reports if any furnished to the entity by the prior owner, or both.
(13) Transfers to an inter vivos trust.
(14) Acts that, without additional consideration and without changing ownership or
ownership interest, confirm, correct, modify, or supplement a deed or conveyance previously
recorded.

Legislative History

Acts 2003, No. 308, §1, eff.June 13 2003; Acts 2018, No. 559, §1.