§ 26-60-101. Definition

As used in this chapter, “consideration” means the amount of full actual consideration paid or to be paid for the property conveyed, including the amount of any purchase-money encumbrance executed by the purchaser.

§ 26-60-102. Transfers to which chapter inapplicable

The real property transfer tax imposed by this chapter shall not apply to a transfer of the following: (1) A transfer to or from the United States, the State of Arkansas, or any of the instrumentalities, agencies, or political subdivisions of the United States or the State of Arkansas; (2) Any instrument or writing given […]

§ 26-60-103. Enforcement by Secretary of the Department of Finance and Administration

The enforcement of the provisions of this chapter shall be the responsibility of the Secretary of the Department of Finance and Administration under rules to be promulgated by the secretary.

§ 26-60-104. Rules

The Secretary of the Department of Finance and Administration is authorized to promulgate rules to carry out the purposes of this chapter which shall be submitted to the House Committee on City, County, and Local Affairs and the Senate Committee on City, County, and Local Affairs.

§ 26-60-106. Payment of tax

The tax levied by this chapter: (1) Applies at the time of transfer; (2) Shall be computed on the basis of the full consideration for the real estate transferred; and (3) Unless agreed upon otherwise, shall be paid one-half (½) by the grantor or seller and one-half (½) by the grantee or purchaser.

§ 26-60-110. Recordation of deed

“I certify under penalty of false swearing that documentary stamps or a documentary symbol in the legally correct amount has been placed on this instrument.” “This instrument is exempt from the real property transfer tax.”